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Energy

Gas Price Worry Won’t Disappear

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By Douglas A. McIntyre Published
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The new stability if gas prices continues after months of rises which have brought the cost of an average gallon of regular nationwide to near record levels. The AAA Fuel Gauge shows the price was $3.907 yesterday, flat from the day before and down from the week earlier price of $3.927. Some economists believe now that the price of crude oil has started to retreat, gas prices will as well. That assessment is premature.

The tension with Iran which may cause it to cut supplies through the Strait of Homuz–the passage way of 20% of the world’s production–has not ended. And, the number of refineries worldwide that have been permanently closed or temporarily shut for repair is still high. The AAA average is also misleading. Many of the largest states by population still have average prices for regular in excess of $4. This included New York, California, Illinois, and Connecticut.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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