Colin Eaton
speaker
191 appearances
3 recordings
1 series
first heard Jul 2021
last heard Apr 2022
Colin Eaton’s voice in public audio — every appearance, attributed to the second.
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Appearances
There have been pockets of outages.
And I think analysts are saying that despite that, there's still ample supply on the market and there shouldn't be too much of a problem across the market.
It's a big number, but as a percentage of the overall trucking fleet, it's not insurmountable.
Another 3,000 trucks would get us to about 50,000 across the country, according to the Oil Price Information Service.
Yeah, particularly in the Pacific Northwest, the heat is threatening to crimp supplies because extreme weather, particularly refineries in the Pacific Northwest, were not built to handle extreme heat.
We deal with that pretty well here in the Gulf Coast.
But it makes it harder for those Pacific Northwest refineries to pump out as much fuel as they have been.
And so you've seen gas prices in Washington state, in Idaho, in Oregon, jump about 10 cents, 10 to 11 cents just in the past week alone on the impact of that.
There have not been yet any major problems, but that region is certainly susceptible to higher prices, more so right now than the rest of the country.
The gasoline prices nationwide are averaging about $3.12 a gallon.
And analysts believe that because demand is robust right now, that it could go beyond $3.20, even as high as $3.35 a gallon.
And that just depends on how robust demand is going to be and how much fuel inventories are
are drained by all this additional driving around the country.
And part of the issue is that oil demand is rising faster than it has in many years in the United States
It's projected to rise about 9% from the first quarter to the third quarter, which is faster than any time in recent memory except for last year when the various lockdown measures were lifted and people got back on the road then.
One thing that is a distant possibility at the moment is a return of oil production from OPEC nations and allies of OPEC, such as Russia.
These countries are holding a lot of millions of barrels a day.
of oil in spare capacity right now.
They have the ability to bring that back on relatively quickly.
And if the oil price were to turn around because of that, you'd see fuel prices eventually follow suit.
Showing 161–180 of 191 · page 9 of 10
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