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VIDEO from American Petroleum Institute Available on API Chief Economist Discusses Rising Gasoline Prices and What it Means for the Economy Heading Into Holiday Weekend
Nov 22, 2010 (02:11 PM EST)

NEW YORK, Nov. 22, 2010 /PRNewswire/ -- See video from American Petroleum Institute at:          

Gasoline prices have been rising over the last months. As millions of Americans prepare to travel over the Thanksgiving holiday weekend, API's Chief Economist, John Felmy, discusses the key factors behind this recent price increase and what it means in terms of the overall economy. Specifically, he states that they're seeing two things in energy markets in recent months: strengthening demand and rising prices. Petroleum product deliveries surged in September, with distillates leading the way. This signals growth in the economy. Gasoline deliveries are up only slightly, but U.S. refiners churned out more gasoline this past September than any September in history. Like demand, prices are also rising. Since late September, gasoline and diesel prices have increased. Available multimedia includes footage of gas pumps and transportation as well as audio bites from Mr. Felmy's call with reporters on Monday, November 22nd.

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Story Id: 20665