Current information! Will US gasoline turn around after seven consecutive weeks of decline? Unusually violent hurricane season could be coming


2022-08-08: [Chinese Article Link]  As the price of American gasoline has fallen for more than 50 consecutive days, the Federation’s August 8 bulletin (ed. Liu Ri) has been subject to a significant reduction in the cost of fuel for American drivers. [Figure of information] However, such a “good day” may not last much longer — the United States energy experts warn that an unusual hurricane season may be approaching and American gasoline prices may rise again. American drivers' "good days" may be over? According to the American Automobile Association (AAA), as of last Friday, ordinary gasoline had fallen for 52 consecutive days across the country, with an average price falling to $4.11 per gallon. Of course, such oil prices are still not cheap. US gasoline prices were only $3.19 during the same period last year, compared to a 28% rise in US gasoline prices today. However, compared to the historic high of $5.01/ gallon at the beginning of June, the average price of petrol in the United States has fallen cumulatively by at least 17 per cent, which is enough to reassure the United States drivers. Energy data and analysis provider OPIS Global Energy Analyst Tom Kloza states: “A rough calculation seems to indicate that by mid-August, the cost of refuelling for all consumers in the United States will be about $500 million less than in the early part of June.” In his view, the previous considerable disruption of market demand when petrol prices touched $5 per gallon was one of the reasons for the successive drops in petrol prices. In addition, while the United States driving season usually ends in the United States on Labor Day (5 September), the current summer driving season is nearing its end, and vehicle sales have fallen, indicating that demand-side heat is expected to continue to decline. However, the impact of the normal hurricane season in the United States on the end of the gas supply may offset the decline in the demand for petrol. The oil market is about to face a new storm. Each year, from June to the end of November, it is the United States hurricane season, with August to October the most active. The US National Oceanic and Atmospheric Administration (NOAA) predicted last week that this year’s hurricane could be particularly intense. In its latest outlook report, NOAA wrote that 60 per cent of this year's hurricane season is more active than in previous years and that both atmospheric and ocean conditions are conducive to moving this year's Atlantic hurricane season above normal levels. According to NOAA's Outlook Report: In the second half of this year, 14 to 20 storms are expected to occur in the United States (more than 39 miles per hour); 6 to 10 storms may escalate into hurricanes (more than 74 miles per hour) and 3 to 5 hurricanes into large hurricanes (more than 111 miles per hour). It is clear that the hurricane season in the United States will all have an impact on the start of oil refineries within its reach. Skyler McKinley, Regional Director of Public Affairs of the American Automobile Association, said that many gasoline products would be affected if the United States were hit by a severe hurricane season. The same is true not only for domestically produced gasoline products in the United States, including those imported from Mexican refiners, but also for a devastating storm that “may really push up prices again”. McKinley indicated that the price of gasoline could have fallen as a result of the cooling of demand after Labour Day in September, but that the situation would have been very different if a severe storm had led to a decline in refining capacity. “ Historically, these costs have often been localized. So, for example, people in Colorado (in the interior of the west of the United States) are not bound to pay more for gasoline as a result of bad hurricanes. But people in the Gulf region are bound to be affected, depending on how much it will affect the country.” According to PAIS Global Energy Analyst Cloza, the retail price of gasoline is expected to fall below $4 per gallon in mid-August if the Gulf of Mexico is not threatened by a hurricane; if affected by a hurricane, the price of gasoline will rebound rapidly, but may not rise to a high of $5.0150. In addition, Kloza believes that the risk of Russian restrictions on energy supplies remains and that it is likely that the price of crude oil will rise again. Label: American gasoline Responsibility Editor (Responsible Editor):


Note: This is a machine translated version of the Chinese news media article. A mature and nuanced reading is suggested.




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Current information! Will US gasoline turn around after seven consecutive weeks of decline? Unusually violent hurricane season could be coming


2022-08-08: [Article Link]  As the price of American gasoline has fallen for more than 50 consecutive days, the Federation’s August 8 bulletin (ed. Liu Ri) has been subject to a significant reduction in the cost of fuel for American drivers. [Figure of information] However, such a “good day” may not last much longer — the United States energy experts warn that an unusual hurricane season may be approaching and American gasoline prices may rise again. American drivers' "good days" may be over? According to the American Automobile Association (AAA), as of last Friday, ordinary gasoline had fallen for 52 consecutive days across the country, with an average price falling to $4.11 per gallon. Of course, such oil prices are still not cheap. US gasoline prices were only $3.19 during the same period last year, compared to a 28% rise in US gasoline prices today. However, compared to the historic high of $5.01/ gallon at the beginning of June, the average price of petrol in the United States has fallen cumulatively by at least 17 per cent, which is enough to reassure the United States drivers. Energy data and analysis provider OPIS Global Energy Analyst Tom Kloza states: “A rough calculation seems to indicate that by mid-August, the cost of refuelling for all consumers in the United States will be about $500 million less than in the early part of June.” In his view, the previous considerable disruption of market demand when petrol prices touched $5 per gallon was one of the reasons for the successive drops in petrol prices. In addition, while the United States driving season usually ends in the United States on Labor Day (5 September), the current summer driving season is nearing its end, and vehicle sales have fallen, indicating that demand-side heat is expected to continue to decline. However, the impact of the normal hurricane season in the United States on the end of the gas supply may offset the decline in the demand for petrol. The oil market is about to face a new storm. Each year, from June to the end of November, it is the United States hurricane season, with August to October the most active. The US National Oceanic and Atmospheric Administration (NOAA) predicted last week that this year’s hurricane could be particularly intense. In its latest outlook report, NOAA wrote that 60 per cent of this year's hurricane season is more active than in previous years and that both atmospheric and ocean conditions are conducive to moving this year's Atlantic hurricane season above normal levels. According to NOAA's Outlook Report: In the second half of this year, 14 to 20 storms are expected to occur in the United States (more than 39 miles per hour); 6 to 10 storms may escalate into hurricanes (more than 74 miles per hour) and 3 to 5 hurricanes into large hurricanes (more than 111 miles per hour). It is clear that the hurricane season in the United States will all have an impact on the start of oil refineries within its reach. Skyler McKinley, Regional Director of Public Affairs of the American Automobile Association, said that many gasoline products would be affected if the United States were hit by a severe hurricane season. The same is true not only for domestically produced gasoline products in the United States, including those imported from Mexican refiners, but also for a devastating storm that “may really push up prices again”. McKinley indicated that the price of gasoline could have fallen as a result of the cooling of demand after Labour Day in September, but that the situation would have been very different if a severe storm had led to a decline in refining capacity. “ Historically, these costs have often been localized. So, for example, people in Colorado (in the interior of the west of the United States) are not bound to pay more for gasoline as a result of bad hurricanes. But people in the Gulf region are bound to be affected, depending on how much it will affect the country.” According to PAIS Global Energy Analyst Cloza, the retail price of gasoline is expected to fall below $4 per gallon in mid-August if the Gulf of Mexico is not threatened by a hurricane; if affected by a hurricane, the price of gasoline will rebound rapidly, but may not rise to a high of $5.0150. In addition, Kloza believes that the risk of Russian restrictions on energy supplies remains and that it is likely that the price of crude oil will rise again. Label: American gasoline Responsibility Editor (Responsible Editor):

Note: This is a translated version of the Chinese news media article. A mature and nuanced reading is suggested.

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