Alaron Trading analyst, Phil Flynn said "Things are looking pretty bad for the upcoming summer driving season." It has been reported that the current stockpiles of gasoline fell by 5 million barrels in the past week, which is more than analysts predicted. Normally stockpiles remain steady during this time of the year in preparation for the high demand during the summer season. If we are already having gasoline stock issues in the spring it is only going to get worse by the summer.
According to Flynn, he predicts that the U.S. as a whole will see $4 prices at the pump, but in certain areas of the country the prices will probably be even higher. In CA some gas stations are already charging close to $4 for premium unleaded.
Prices in the U.S. are still much lower than they are in Europe.
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