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Opinion - USA - Where do gas prices go next?
Boston, Mass., USA -The Christian Science Monitor, by Mark Trumbull -Sep 9, 2005: -- Gasoline prices have begun to ease, but even when all Gulf Coast refineries are running again later this year, consumers may not see a full retreat to pre-Katrina levels... That conclusion, analysts say, stems from a simple equation involving the cost of a barrel of crude, markups by middlemen, and little margin for error in the nation's energy infrastructure. Across the country, gasoline prices soared into uncharted territory - above $3 per gallon last weekend -... Economic forecasts vary on where that base-level price heads to next... "World oil markets are fundamentally tight," says A.F. Alhajji, an oil economist at Ohio Northern University in Ada, Ohio. He wouldn't be surprised by oil at $75 oil a barrel in coming months... But others say the current high price could give producers an incentive to reopen wells that weren't profitable at $35 a barrel. And it gives consumers an incentive to conserve. "Demand responds to the price signal," says Gus Foucher of Economy.com in West Chester, Pa., who predicts oil will cost $50 by the end of 2006. "Once we get through the hurricane season I think things will calm down a bit"...
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