Factors Impacting Crude Oil Prices and Ways to Save on Fuel Provided by Senior Petroleum Analyst

Posted on Author Jacque Ryan

Gasbuddy.com Senior Petroleum Analysts Patrick DeHaan and Dan McTeague collaborated on a fuel price outlook for 2018.

Though the men did predict an expensive year ahead when they issued the prediction on January 3rd, McTeague said conservative figures were utilized in order to avoid making any assumptions that could have been considered too high. Five weeks into the New Year even the maximum predictions have been surpassed.

McTeague explained that one factor currently contributing to dwindling crude oil inventories is a leak to a frequently used pipeline. Continue reading →

Senior Petroleum Analyst Expects High Gas Prices to Continue in 2018

Posted on Author Jacque Ryan

For the last 10 weeks, the United States has consecutively seen a steady decline in crude oil inventories, according to Gasbuddy.com Senior Petroleum Analyst Dan McTeague.

In January of 2017, the cost of a barrel of oil was around $52. McTeague shared that right now, we’re seeing prices closer to $66. That is a $14 difference and he said it may increase as the year goes on with high demand at the national and international levels, increased exports and stalled production continuing to impact costs. Continue reading →

Fuel Analyst Says Gas Prices Have Fallen From Last Month But Risen From Last Year

Posted on Author Jacque Ryan

You may have noticed that gas prices have recently gone down. Though that is partially due to certain areas finally regaining stability after the recent natural disasters, it also has to do with the annual switch from summer fuel to winter fuel. Senior Petroleum Analyst Dan McTeague said that prices in Indiana have dropped on average around 15 cents from last month, when there was still speculation and concern over the amount of refineries damaged.

Though we may be experiencing lower gas prices than a month ago, compared to this time of year in 2016, we’re paying approximately twenty more cents. McTeague said there a few factors responsible for that difference. Continue reading →

Petroleum Analyst Provides Some Perspective on Indiana Gas Prices

Posted on Author Jacque Ryan

Gas prices may be up 24 cents from last year’s average but compared to individuals on the east coast, drivers in Indiana won’t be seeing much of an impact from Hurricane Harvey at the pump. According to GasBuddy.com Senior Petroleum Analyst Daniel McTeague, Indiana’s gas prices are impacted by the Chicago Spot Market, not the New York Market. Continue reading →