Refining Reality: Gas Prices May Not Ease Up Despite Crude Stabilization The notion that gas prices will plummet once crude oil stabilizes is a comforting narrative, but it's about to get a hard reality check.
A perfect storm of refining capacity constraints is brewing, and it won't be fixed overnight. While the summer driving season may have ended, don't expect pump prices to drop significantly anytime soon.
According to Patrick De Haan, head of petroleum analysis at GasBuddy, U. S. drivers could see gas prices hit a Labor Day record if Washington and Tehran fail to reach an agreement on the Strait of Hormuz.