Summer May Bring $4 Gas

Komo News – A new report for a California Taxpayer Foundation warns that when it comes to gasoline we are “Running on Empty in the West.”

The report prepared by Tim Hamilton, a petroleum industry expert, warns that low gas inventories are setting the stage for $4 a gallon gas this year.

Hamilton says the West Coast has picked up the nickname “Refinery Heaven” on Wall Street because low inventories and high demand have created high prices and big profits. Hamilton estimated oil companies on the West Coast are making one dollar profit on each gallon of gas sold.
Komo News