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Forbes: Why America’s Gas Price Roller Coaster Ride Will Continue

<span style="font-size:11.0pt"><span style="line-height:107%"><span style="font-family:"Calibri",sans-serif">David Blackmon</span></span></span> | March 15, 2022

There is little doubt that Russia’s invasion of Ukraine and the sanctions that followed resulted in a short-term oil price premium of something in the range of $20-$25 per barrel. Prices peaked on March 8, and as of Tuesday morning, all of that premium seems to have been shed.

There are no indications yet that higher commodity prices have caused significant reduction in demand. On the contrary, Chris Cook, Senior Equity Trader and Research Analyst at Texas-based Frost Investment Advisors, said in an email that “Right now, we’re running at demand levels that are about 3% higher than before COVID hit. We’re at peak demand levels that are being met with less production and less capacity to meet it.”

Excerpted from Forbes on March 15, 2022. To read full article, click here.

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