I don't think it has peaked and I don't think an increase in oil production immediately can offset the immediate up pressures that exist specific to the U.S. gasoline market.
Katrina damage remains a crimp on gas supplies, but we've had a major comeback by the oil industry since she hit,
It can't last, ... Wholesale gasoline prices are already responding to the crude oil price hikes, and are on the way up, so a turnaround at the pump can be expected fairly quickly.
I think it's over. The slightly higher crude oil prices combined with a recovery in gasoline demand is ending the retail gasoline price crash.
I think two factors to look at in considering the rise are crude oil prices and gas demand.
The reason that prices are moderating is that both crude oil and gasoline supplies are enhanced,
Crude oil prices have been working their way through to the pump, and gasoline demand growth in June -- over June 2004 -- fueled the price hikes,
This is a manifestation of what has occurred in the world oil market, despite OPEC production cuts,