There is a lot of new money coming into the market. With the Iran nuclear standoff and the threat of Nigerian supply disruptions there is a lot to worry about.
More Quotes from Peter Beutel:
By Labor Day weekend, prices will be up 20 cents to 50 cents a gallon,Peter Beutel
This is a postcard from another country. If only we could have kept these numbers without the hurricane, this would have been a real sign of hope.
Peter Beutel
Right away, nationwide, we're going to see an increase of gas prices of 12 cents. We'll see it almost everywhere by Tuesday. In addition, sometime between St. Patrick's Day and the end of the month, I expect to see an additional 12 cents. This is extraordinarily bad news for the consumer.
Peter Beutel
there is something wrong with the market.
Peter Beutel
It doesn't make a whole lot of sense to me. It's hard to tell at what point consumers will start to balk. It defies the laws of economics.
Peter Beutel
People are not paying very close attention to it, ... At this point this market is just living and dying with every twist and turn of weather report -- we'll probably revisit it later but it's not important until we get Rita out of our systems.
Peter Beutel
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