You're watching...
OPIS U.S. Refined Products Executive Editor Denton Cinquegrana on the outlook for gas prices.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Turning back to those rising gasoline prices -- next guest says prices at the pump are.
Rising earlier than usual and drivers could be paying more at Easter than they are on Memorial Day we hope so joining us we've sort last step of that.
Did the does think we're ground good to have you with -- -- executive editor of the Oil Price Information Service step in.
Up you think that this thing is going to peak in in the spring I usually that -- but.
That's kind of my fearless forecast you know Easter pay more than we are Memorial Day and 4 July.
Last year we keep I believe nationally 393.
And that was about people sixteenth or seventeenth of -- This year were running a couple weeks ahead of schedule so I'm hoping that you know we're gonna -- somewhere around people -- so.
And probably in that same area that 393 area.
And we saw today the refiners get hit hard we saw or Olsen from two box.
Is this a sign.
Good things to come for the consumer.
I think it is it's gonna take all -- to make its way downstream but.
You know there there's companies that -- gauge whether the market's bullish or bearish and boom bullish percentages are reaching those levels where.
Okay it's time takes and that's off the table so we -- -- the -- in the futures prices we told being -- drop a wholesale prices and in turn property.
There we want some futures expire and is as well that's all playing into it.
But bottom line is as we go forward what is driving these prices higher.
-- -- and I talked to Bill O'Reilly.
Usually every week about the way things are going and he goes crazy because prices -- -- and I've ever hear -- but they're going down right.
But understandable these prices go up people get hurt but this is a bigger chunk of change.
Absolutely absolutely and Dillard's is also taxes that -- -- that's kind of hitting cost in in the in the gas -- price deaths of retail gasoline prices -- You know when you come across the -- or comb through tunnels.
In New Jersey Salt Lake the gas is magically different it's the same gasoline -- -- -- -- to -- -- taxes are so much dupers in New Jersey or gasoline.
Everything else has a different stores -- you cross into new Yorker you're looking at the highest state gasoline taxes in the country right just about yet today it's in the top couple states California is another one -- Connecticut's up there as well we still include Californians.
I think I think we should it's it's it's of one of the great fifty states we have.
So what is your expectation we're gonna see you nice smooth transition here -- summer blends.
We're gonna see our consumers gonna break a -- -- Is that really what do you know a lot of times this time a year comes that the phrase we throw around the office paternal area.
Only god this is the year we're not going to -- paranoia.
I we're not gonna have enough gasoline demand can it outstrips supply there's going to be some major problem it when we switch over to -- the summer grade gasoline.
And you you there's a few pockets here and there where we have a little problem here there -- terminals transferring over and it doesn't quite happen right.
But for the most part we get there -- relatively unscathed and that's when everything you know kind of falls apart and -- finally get -- break we're looking for and now we're runner and I were should include New York as well response to the public gun control laws it's getting complicated -- the country.
And thanks so much -- -- my presidency.
