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Gasoline might not reach
owners exist on thin profit margins."The money is being made on the production side, not on the retailing side or at the refineries," Clark Converse All Star Ox White Junior
said. "Stations are quick to raise the price of gasoline when crude oil goes up to make up for their losses, but slow to lower Converse Navy Women
Clay Ingram, spokesman for AAA Alabama, believes pump prices in Alabama may peak around Memorial Day weekend, then drop slightly throughout the summer."I'm cautiously optimistic because things have settled down in Libya and the unrest has not spread over to Saudi Arabia as some feared," he said. "Prices should have never been this high in the first place."Regular gas averaged nearly $3.76 a gallon in Alabama on Monday, down almost a penny from the previous day, according to a survey by the AAA motoring club. In the Birmingham Hoover area, regular averaged $3.74, statistically unchanged from Sunday.Both the Alabama and Birmingham priced for regular remain nearly $1 a gallon above levels of a Converse Gray Color year ago.One reason experts believe gas prices may stop rising and even begin falling came last week when crude oil prices plunged 15 percent, the steepest decline in 2 years, to close in the $97 a barrel range on Friday."I think investors are starting to relax again," Ingram said Monday. "Supply has never been an issue and demand has been soft compared to historical levels due to high gasoline prices. Crude should really be in the $70 to $80 range."But in a sign of the continued volatility, crude oil for June delivery rose $5.37 a barrel on Monday to close at $102.55.Peter Clark, an assistant professor of chemical engineering at the University of Alabama who follows petroleum markets, said he expects crude oil prices to continue to fluctuate around $100 a barrel this summer."There's no logical reason for oil to be above $100 a barrel right now," he said. "But investors are like sheep. They follow the leader and are looking for a quick buck."If crude oil prices fall some more, Clark said drivers shouldn't expect to get quick relief at the pump. Unlike the big oil producers that are making record profits, Clark says individual station Converse Chuck Taylor Sneaker Boots
prices when it falls."Clark said Americans have cut back on driving so much that Saudi Arabia, the biggest oil producer, has cut back on production by 1 million barrels a day."There is a record supply of crude oil on hand," he said. "Though prices have gotten higher than I thought they would, I never expected them to approach record highs again this summer. Driving habits have changed."
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