Fox Business
Expand
Browse All Video
Watch Live

You're watching...

When Will We See a Decline in Gas Prices?

Details

  • Description

    OPIS chief oil analyst Tom Kloza gives his outlook for gas prices.

  • Duration 3:08
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

I -- gas Britain that the malevolent not but our next guest says they -- actually fall much further in the next five weeks between now -- the election.

Tom clothes that cheap oil analyst with -- joins us from Las Vegas where I know you're given a speech we'll talk about his second but you know -- People from the north east myself included and the West Coast have actually -- prices go up how come Tom.

You know what we didn't -- trouble.

Running the refineries on the West Coast and on the East Coast what we're still sort of alluding through the embolism that was created when hurricane Arctic -- through.

So I I think those problem -- to clear up in both cases but.

Unfortunately -- in the West Coast this summer and there are some respect for gasoline expense through Halloween.

And -- these because we've got the lowest -- gasoline inventory in a generation and perhaps so.

You've got to go back when people were.

We're in bell bottoms and big -- to find.

Yes sucks is slow in the population is bigger.

-- I had.

-- bottom jeans got in my head really big today so I'm not that means -- Tom we got a you get this -- -- come in it isn't then coming hours just coming.

To the middle part of the country.

Now it's gonna come in and -- will happen in it'll happen because.

-- -- the price of gasoline.

And we're starting the fourth quarter here.

That's what the third quarter was the most phenomenally spectacular profitable quarter for refiners probably in the 21 century abated on the and that those margins are gonna come down you're not -- -- gasoline for 304050 dollars a both groups forever.

So of course kind of channels where -- that now in the nineties for WTI at about 110115.

-- Brent.

Gasoline prices have to come down.

November is not a good dropping -- -- -- and so so the -- my -- will be.

Neither candidate it's gonna get too much political clout out of what's gonna happen in the next 45 weeks but whoever gets elected they're going to be able take credit for prices dropping.

You know on the notices -- -- election probably.

Right which is -- -- should be read through that no it's not -- I still -- -- -- in you're given a speech called pop goes the diesel so you think in they diesel prices are gone through the roof hot.

-- I -- I think it'd W I would look at those numbers of -- Kristi at five dollars and 550 were not spent on gas but I don't think that nonsense on bespoke.

-- stocks -- low throughout the world.

It's the molecule in the petroleum barrel that has seen -- 50% of all the growth internationally since 2000.

And so and in Europe to a certain extent you don't get the public outcry when prices go higher.

In lecture fully so I think -- -- -- buy diesel prices.

It's hideously hired jet fuel prices that probably means built and Torchmark -- further.

The -- money you know it's not fair to tax the more people in booked.

I think that is -- gonna see the next urgent -- -- I guess it.

Some comfort in knowing it's not and that the gas that would put our cars Tom close out Vegas have -- -- their set -- here thanks.

Load More