Monday, May 28, 2007

Oil Analyst: Wholesale Price Easy To Cut 50 Cents A Gallon


If half of American motorists used one less gallon a month, the drop in demand could cut the wholesale price of gasoline per gallon up to half-a-buck, a leading oil industry analyst says.

Here's the money quote:

"That's according to Tom Kloza, chief oil analyst for the Oil Price Information Service on the East Coast. Kloza says that if just half of Americans used one single gallon less of gasoline in the month of June, demand would dip 1 percent. Wholesale gasoline prices would slide 30 cents to 50 cents.

Would that be so hard?

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