OGJ Newsletter

03/01/2004
Market MovementUS gasoline prices on the riseUS gasoline prices may be headed toward another spike at the pump through a pending shortage approaching the peak summer driving season, analysts say."US retail gasoline prices are spiking upwards ferociously for no less than the third time within the past year," said Paul Horsnell, head of energy research, Barclays Capital Inc., London, in a Feb. 25 report. "In the middle of last March, the average US price for regular gasoline peaked at $1.728/gal. In the last week of August, an all-time peak was set at $1.747/gal. Now we have a third peak forming, with the average currently standing at $1.688/gal, a rise of 4¢ over the past week," he sa...
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