Phil Flynn, a representative of Alaron Trading, told CNBC’s “Squawk Box” that refinery outages and strong demand will create tight gasoline supplies this summer.
“This is the worst I have ever seen it at this time of year,” Flynn said Friday. “Our supply vs. demand has never been this tight before. It’s going to be a very dangerous summer and real bad luck for the consumers.”
The U.S. Energy Information Administration expects the price of regular gasoline to average $2.81 a gallon this summer, three cents below last year. Retail diesel prices are expected to average $2.82 a gallon this summer, down six cents from last summer.