Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Kloza: Gas Lines Won’t Continue Much Longer

Details

  • Description

    Opis chief oil analyst Tom Kloza gives an update on the lengthy gas lines.

  • Duration 3:34
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Nobody cares -- but I want.

I read more New York of fuel I harbor fuel terminals and truck racks operating -- not for the first time in a week.

People in new York New Jersey -- are still waiting on ridiculously long gas lines so when this is gonna come to an end.

Joining us now by phone Tom close its chief oil analyst of the Oil Price Information Service.

You are from -- New Jersey time it was hit hard down there how are things.

You know -- build up yesterday and I -- ones are like so would be -- they're easing from mr.

out of the north.

As electricity comes back then this won't be anything that persist beyond UK -- -- Okay now why from the south to the north could US it -- we got hit harder than we did.

We still don't have power up by -- is that the whole reason for.

Well in the terminals in New York Harbor beautiful places like failed to live didn't.

Duplicate -- so.

Those are the places that the people couldn't pick up fuel -- that security in get gasoline in Delaware with both dealt you have brown.

Places -- in doubt here at the end of Delaware River and those terminals opened better but we're getting a little bit more respiration on the power side.

It's some of the non barrier island community.

Yes it's and it's slow let me tell you painfully slow I know -- has refinery import reading New Jersey has partial power against the back somewhat helpful.

For those of us in north Jersey and New York with the -- Got I have I have a friend you got up at 3 o'clock in the morning on Saturday the gas isn't -- open until six he was thirty cars back at that moment.

You're tell me that this time next I am not gonna have that problem.

Absolutely Paramount value added that the Governor Christie.

We have unique population in your spirit is its very demanding.

-- -- -- -- -- -- And to a certain extent there's there's been a little bit of the panic but there's -- gasoline and storage.

It's just states the -- aspect electricity.

And pathetic thing I think that -- gonna suffer from a little bit of over -- with a lot of guilt coming from other parts of the country.

But in new York and New Jersey the rest for the country -- dropping -- price and I would beg you to buy a better and today the country will be lower -- -- you know our veterans say it's about go up.

Yeah that we are creating here that's for sure I know people in Connecticut -- tiny gas.

Fill up every time they use of an eighth of a tank.

So why then no because of this they are are gas prices still falling -- and I suppose that just goes to the notion that the supply is there.

Yeah -- entry -- actually in October.

We wanted to bring -- gasoline prices the -- -- but Lehman Brothers aftermath.

Eight -- prices in the -- -- market for down anywhere with.

That he's the Barack -- split dollar -- a border that California and we haven't caught up for those bright.

It yet and we will.

What's the rationale for the price -- them.

Other rationales actually lowered demand by -- didn't New York particularly the rest of the country -- -- using up my.

And suppliers that resource.

The -- -- you know you mentioned naked -- refinery itself.

60000 barrels a day they're about -- -- million barrels of their refining capacity that -- -- -- belt.

It's easier to -- began only take when he gathered -- the all of the winner.

It's harder to do it but it won't stop.

You give me hope -- close of that you are not wrong we New Jersey and have no patience.

Tom thank you as always for sharing your thoughts.

Load More