No Repeat of 2003 Gas Price Spike Expected



Source: : Oilspot News, August 8, 2005
Situation
Energy Information Administration not expecting repeat of Aug 2003 $.20 spike in regular gas
Aug usually critical time for gasoline markets
Providing either new price spikes or respite from higher prices
EIA said it remains unclear what direction gasoline markets will take this month
Petroleum product markets may run in cycles lasting longer than single peak season
Significant Points
Refinery problems point to potential for higher prices in next few weeks
Current focus on gasoline expected to shift soon to heating fuels
Propane and heating oil consumers should expect to pay more than last year
Inventories could be comparatively tight on days supply basis
Crude oil prices expected to remain at or near all-time highs