1. Although the summer driving season is over, which should relieve some of the pressure, any refining capacity not needed for gasoline must be shifted to heating oil. 2. Analysts expect that U.S. inventories of gasoline fell last week ahead of the Memorial Day holiday that traditionally marks the beginning of the summer driving season. 3. Analysts expect U.S. inventories of gasoline probably fell last week ahead of the Memorial Day holiday that traditionally marks the beginning of the summer driving season. 4. And since summer is the driving season, prices rose along with demand. 5. At the same time, demand was expected to be strong as the summer driving season, a period of peak gasoline consumption, neared an end. 6. A jump in price this early in the driving season is unusual. 7. Bush targeted Memorial Day, the traditional start of the summer driving season, as a good deadline for that action. 8. But gasoline retailers typically raise prices in May, in anticipation of the busy summer driving season. 9. But this level of crude prices will mean the cost of a gallon of gasoline should remain stable or even move lower through the summer driving season. 10. Coming at the end of the summer driving season, the report signaled gasoline supplies should be sufficient in the weeks ahead. |