The good news is, we've seen wholesale prices of gasoline go down in recent days.
More Quotes from Doug MacIntyre:
The prices are going up because of the usual seasonal build-up in demand this time of year. The reason we still have prices going up when inventories are seemingly abundant is that there's a lot of uncertainty about gasoline supplies in the future.Doug MacIntyre
We've got a lot more down now than normally would be. If gas markets are already tight to begin with and you lose 5 percent of the supply, prices are going to increase.
Doug MacIntyre
It's difficult for me to envision (the OPEC offer) having too much of an impact. Crude inventories here in the U.S. are looking pretty good.
Doug MacIntyre
Just as we were saying high prices were lessening the demand growth we would normally see, but not as much as some people would think, the lower prices are having some impact on making demand higher.
Doug MacIntyre
Normally we'd expect to see a decline of about 400,000 barrels a day from August to September just for seasonal reasons, as people stop taking vacations.
Doug MacIntyre
There's still crude out there that can make up for any loss in production.
Doug MacIntyre
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