Tulsa’s ever escalating gasoline prices may climb even more. That is the message from the Oil Price Information Service. The Organization’s Tom Kloza says there is plenty of oil, but not enough refining in our part of the nation. He says several refineries have shut down for various reasons and that is impacting the price locally.
Kloza tells KWGS refining capacity in this part of the nation is the lowest it has been since about 1990. He expects the wholesale, and thereby the retail, price of gasoline to continue to climb for the next several weeks. He says price will flirt with the $4 a gallon mark.
He says right now, wholesale prices in Oklahoma are higher than in Texas, the East Coast and even California. He says once refineries get back in line prices will drop almost as dramatically as they increased. Kloza says the price drop should come in early June. Until, then it will be very painful at the pump.