The price of crude has $10 worth of fear in it and $10 worth of speculation and when Wall Street isn't afraid, they don't bid the price up so high.
Crude oil prices are being driven by fear and speculation. The price (of gasoline) is a minimum of a dollar a gallon too high.
I've watched the run-up in wholesale price ? 22 cents in two days ? and there's nothing to prevent it from continuing to go up. I think we're going to continue seeing an up-tick in pump prices.
It's a predatory action. They (refiner-owned stations) would eliminate us and sell (gasoline) at whatever price they want.
Time goes on and inflation kicks in and the price goes higher. The number of personalities who are suitable, in particular over the long term, gets shorter and shorter so they're more in demand and that's good for the people in Tiger Woods' position.
Most independent owners have to pay on delivery for their fuel and can't raise their price till after that delivery comes in. A tanker load of gas is running $30,000 right now and that's tough for anyone to swallow.
Speculators on Wall Street are responsible for prices going through the roof and now they have nothing more to be afraid of.
Oil companies make a determination where they want to improve volumes. Whoever operates in those markets gets a different wholesale price than someone who could be two blocks away.
I think the drive-to travel market is still up in the air, and we won't know until Thanksgiving, ... That's the next big travel holiday in the petroleum industry. But, generally, I think the rapid escalation in the price of gasoline has slowed down demand.
Market forces will drive any prices increases and at this time, we feel it is too early to project what this will be.