Basically what is happening is the industry is trying to stop a run on wholesale gasoline by gas stations, ... The gas station owners don't want to under price the market and possibly run out of gasoline.
More Quotes from Geoff Sundstrom:
The key to re-establishing healthy gasoline inventories and keeping prices in check will be whether the refining industry is able to produce enough ethanol-blended fuel to meet rising summer demand in the few weeks that remain before Memorial Day.Geoff Sundstrom
Based on prior experience, consumers will travel by car this summer, as long as the economy remains strong. There may be some moves away from big vehicles, which we've already seen to some degree, but gasoline costs won't curtail travel.
Geoff Sundstrom
They only have a certain number of paid days off from work, the kids are out of school, and they're just very reluctant to give it up,
Geoff Sundstrom
We believe that people have been putting off vacations due to concerns about terrorism, the war and the economy. Now the war, at least, is largely behind us ... With that in mind, we think the demand for gasoline should be reasonably high.
Geoff Sundstrom
The entire distribution channel has been upset and that's manifesting itself in a wider-than-normal disparity in prices from place to place, ... Until we get back to normal, it's smart for consumers to shop for the best price they can find as long as they're not burning too much gas looking for savings.
Geoff Sundstrom
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We agreed to do it when I was drunk at his house one night, then on the day I had to have four large brandies - they didn't touch the sides at all. People just got on with it though. It didn't gather a crowd!
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