Oil industry problems could affect gas prices

The oil market is as tight as it has been in a long time and it does not have any wiggle room, either on the crude oil supply, which provides the raw material for gasoline, or the refining side, which actually produces and distributes gasoline.

“We are driving a car with worn out shock absorbers and we are feeling every bump,” said Anne Korin, co-director for the Institute for the Analysis of Global Security, a think tank that focuses on energy, at the conference.

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