National average gas price of $6 per gallon isn’t impossible

Appearing on the Fox Business Network on Wednesday, GasBuddy’s head of oil analyst Patrick De Haan warned that the national average gas price in the United States could rise further this summer.

A transcript is as follows:

STUART VARNEY: You were right. You said we’re going to hit a national average of $5 in mid-June. We’re almost there at $4.95. Where to go from here? In mid-summer and fall, can we reach the national average of $6?

PATRICK DE HAAN: The way things are going with your refining chart there and LyondellBasell talking about potentially shutting down their Houston refinery early, that would be another 260,000 barrels offline. We are going in the wrong direction. $6 is not impossible. It sounds like a ridiculous call a few months ago, but we’re headed in the wrong direction. I’m afraid there is a refinery problem or a major hurricane far from being able to see this, maybe in August as a potential. But I still don’t necessarily think that’s a guarantee.


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