Appearing Wednesday on the Fox Business Network, GasBuddy head of petroleum analyst Patrick De Haan warned that the U.S. national gas price average could surge even higher this summer.
A transcript is as follows:
STUART VARNEY: You were right. You said we’re going to a national average of $5 in mid-June. We are almost there at $4.95. Where to from here? By mid-summer going into the fall, can we get to $6 national average?
PATRICK DE HAAN: The way things are going with your refining graphic there and LyondellBasell talking about potentially shuttering its Houston refinery early, that would be another 260,000 barrels offline. We’re going in the wrong direction. $6 isn’t impossible. It’s looking like a ridiculous call a few months ago, but we’re trending in the wrong direction. I’m afraid were one refinery issue or one major hurricane away from being able to see that, maybe in August as a potential. But I still don’t nessesarly think it’s a guarantee.