We're staring down the barrel of $4 a gallon for gas.
With volatility continuing to accelerate, the OPIS SRI provides another way marketers can limit their risk when buying and selling fuel.
Unless this market calms down quickly, you're looking at $4 gas.
When refineries are shut down naturally, the amount of fuel you deliver to the market would be lower. That doesn't speak to whether or not the U.S. motorist is burning less fuel.
Expect prices to rise in the short term. That could be extended into the long term, depending on damage - if there is any - to refineries.
We think the benchmark can provide an easy-to-use and visible spot market index for your current contract needs.
There's no question gas will hit $4 a gallon. The question is how high will it go and how long will it last?
There's just no reason to expect this market will put itself into reverse.
Consumers haven't seen the worst of it yet.
In our lifetime we will see gasoline prices go back down. Right now we're in an upward spiral that's going to take us to $3 this summer. That number is already built into this market, unfortunately.