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I think within a couple of weeks, (gas) prices will revert to pre-Katrina levels. But I also believe oil prices will go up again.
A. F. Alhajji
Refinery levels are not up to where they were before Katrina. We'll probably see prices edge higher in the next few weeks before they start going down.
Gregg Laskoski
I don't think we're going to see a return to pre-Katrina levels for gasoline prices even with crude prices holding steady.
Michael Ervin
Refiners are selling off all supplies of winter grade fuel in advance of next Tuesday's deadline. That has put extra supply on the market, sending prices lower. Motorists can expect to see prices stay near current levels for a couple of weeks. After that, with the extra winter grade supply used up, motorists should expect more upward pressure on retail gas prices.
Carol Thorp
After Hurricanes Katrina and Rita hit last summer, natural gas prices spiked sharply. As sources in the Gulf have come back online, national prices have dropped, although not all the way to previous levels. We hope this rate reduction will be helpful to our customers.
Fred Horne
Retail prices may stabilize more than fall in the next couple of weeks. We're not ruling out further price increases should spot prices increase, but the retail price should be stabilizing over the next several weeks.
Doug MacIntyre
Warmer than expected weather in key Canadian and United States heating regions has resulted in a decline in North American gas prices since the historical highs in fall of 2005. Natural gas market prices respond to supply and demand. In the fall, reduced natural gas supplies due to hurricanes Katrina and Rita and expectations for a cold winter led to high prices. Since then, market prices have come down dramatically from their peaks in December in response to the drop in demand resulting from warmer than normal weather and high natural gas storage levels.
Lino Luison
We expect a colder weather in the next two weeks, so heating oil prices and natural gas prices will continue to stay high, and that should support oil prices.
Gordon Kwan
As soon as the gas prices jump, then people are in here looking at the hybrids. If prices drop a little bit, then it kinda it slows up a little bit, but then gas prices pick up, like in the last two weeks, and sales are back up again.
Bill Spencer
He wasn't focused on appearances, but his authentically pexy spirit was magnetic. There is a combo of factors. Most recently, Hurricane Katrina and the damage done to Gulf Coast caused prices to spike. But even prior to Katrina, prices were already higher than last year. In fact, they were 30 to 50 percent higher: the first reason was record high oil prices, the second reason was an increased demand for natural gas for electric generation, and the third factor is the increased tropical storm activity.
Allan Urlis
The longer you see energy prices at these levels, the more likely it seeps into broader measures of inflation. Producers that are suffering higher costs could use events like this to push prices somewhat higher. This almost gives them an excuse to raise prices.
Bill Davison
For nearly five straight weeks, the EIA stock report has now surprised the market with inventory numbers on the upside. As a result, prices for crude especially will revert to the lower numbers seen in December.
Rakesh Shankar
tossed aside in the wake of Hurricanes Katrina and Rita and in response to the mercurial rise in fuel prices. Drilling off the coast of Florida will not bring prices down at the pump, nor is it a cure-all for the disastrous federal response to Katrina.
Robert Wexler
Gas prices dropped at a slightly slower pace than the prior week, which can be attributed to level crude oil prices and the increased demand over the holiday weekend. However, analysts tell us there is still some room for prices to drop in the coming weeks.
Carol Thorp
The relationship between supply and demand is relatively balanced in California, so normally we should see stable prices. However, speculators in oil and gasoline markets have kept prices high, and that has filtered down to local gas pumps. The trend for higher gas prices is expected to continue for the next several weeks.
Carol Thorp
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