Gasoline Prices Keep Going Up, Even as Oil Falls, Fattening Refiners Pockets
Motorists could pay more at the pump this summer, even if crude prices fall. That's because decrepit refineries are making it more expensive to produce gasoline. How can investors turn outrage at the pump into a winner trade?
Eric Bolling says the refiners were up today another 3 cents a gallon and according to Eric, that translates into another $8 billion for Exxon (XOM), $4 billion for Valero (VLO) and $3 billion for Chevron (CVX).
As Eric has said so many times in the past, he believes investors should own the refiners.
Tim Strazzini agrees with Eric.
Guy Adami adds that he likes Holy Corp (HOC).
Jeff Macke says if gas prices hit new highs that will scare him – but so far no records. In addition, he’s concerned that if the price doesn’t go lower soon there will be some serious negative consequences in consumer spending
Dylan Ratigan says the bottom line is – expect the price of gas to go higher over the next 10 days to 2 weeks.
On APR 9, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders. Bolling Owns (XOM), Gold, Silver Strazzini Owns (SNDK), (YHOO), (TIN)