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US Gas and Diesel Prices Likely Heading Higher, Blanch Says
United States🏛️ PoliticsCenter10 days ago

US Gas and Diesel Prices Likely Heading Higher, Blanch Says

Francisco Blanch, head of commodities and derivatives research at BofA Securities, discusses current trends in global oil markets. He notes that China has become adept at managing its energy consumption and is now acting as a 'swing buyer' of oil, meaning it can influence supply dynamics. Blanch explains that low U.S. oil inventories could lead to higher gas and diesel prices. However, he also suggests that oil prices might decline by 2027 if conditions stabilize in the Strait of Hormuz, a critical shipping chokepoint. The comments were made during a segment on 'Bloomberg Surveillance.'

U.S. gasoline and diesel prices appear poised to rise further, according to Francisco Blanch, who leads commodities and derivatives research at BofA Securities. Speaking during a segment on Bloomberg Surveillance, Blanch noted that China has developed advanced capabilities in managing its energy consumption and is now acting as a "swing buyer" of oil, capable of adjusting demand based on market conditions. This dynamic, combined with historically low oil inventories in the United States, suggests that domestic fuel prices may climb even higher. The current situation reflects a broader trend of escalating fuel costs. On Wednesday, the national average for regular gasoline reached $4.03 per gallon, marking the highest level ever recorded for this point in the year. According to data tracked by GasBuddy, a leading fuel price monitoring service, this figure represents a new benchmark for late-August pricing. Patrick De Haan, GasBuddy’s head of petroleum analysis, confirmed via social media that such a high price had never been observed after August 12 in previous years. Despite these record highs, the persistence of elevated prices shows no signs of abating. Tom Kloza, chief oil analyst at Gulf Oil, emphasized that Americans are paying more for gasoline than at any other time of year. He pointed to ongoing geopolitical tensions, particularly the uncertainty surrounding the Iran conflict, as a key factor influencing the stability of fuel prices. The war’s unpredictable course continues to create volatility in global oil markets, affecting supply chains and investor sentiment alike. Blanch also offered a long-term perspective, suggesting that oil prices might decline by 2027 if conditions in the Strait of Hormuz return to normalcy. This strategic waterway, through which a significant portion of the world’s oil passes, has faced disruptions due to regional conflicts and political instability. However, he cautioned that immediate relief for U.S. consumers is unlikely given the current inventory levels and the role of major economies like China in shaping global energy dynamics. The stagnation of fuel prices at around $4 per gallon has sparked concern among analysts and consumers alike. With summer driving season in full swing, the financial burden on households is growing. Analysts warn that unless there is a substantial increase in domestic production or a shift in international geopolitical conditions, prices are likely to remain elevated well into the fall. In addition to geopolitical factors, domestic energy policies and infrastructure challenges contribute to the complexity of the situation. Refinery operations, seasonal demand fluctuations, and transportation logistics all play roles in determining how quickly lower oil prices can translate into reduced consumer costs. The interplay of these elements makes forecasting future trends difficult, though experts agree that the current environment favors continued upward pressure on fuel prices. As the situation unfolds, industry observers are closely watching developments in both the Middle East and Asia. Any changes in the Iran conflict or shifts in Chinese energy policy could have ripple effects throughout global markets. For now, however, American drivers face the reality of record-high fuel prices, with little indication of immediate relief on the horizon.

5 reports

Quartz logoQuartzIndependentCenterFactual 85Objective 9010 days ago
Gas and diesel prices are setting records for this time of year — and there's no relief in sight

Gas and diesel prices in the U.S. reached record levels for this time of the year, with the national average for regular gasoline hitting $4.03 per gallon on Wednesday. This marks the highest price seen at this point in the calendar year. The article notes that there is currently no indication of price relief, suggesting continued high costs for consumers.

Bias read (Center): The article presents factual data about rising fuel prices without overtly criticizing or praising any political entity or policy. It focuses on economic indicators and market trends rather than taking a partisan stance. While fuel prices are influenced by political decisions and policies, the piece

Why factuality (85): This article provides a clear, specific figure ($4.03) and states it as a record for this time of year. It aligns with other articles and offers precise data without embellishment, supporting its factual reliability.

Why objectivity (90): The article is highly objective, simply stating the data without interpretation or emotional language. It focuses on the factual record without suggesting urgency or concern beyond the stated information.

The Hill logoThe HillIndependentCenterFactual 80Objective 8511 days ago
GasBuddy: Average gas price reaches record high for this time of year

Gas prices in the U.S. hit a record high for this time of year on Wednesday, according to GasBuddy. The national average price of gasoline exceeded $4 per gallon for the first time after August 12 in historical data, as reported by Patrick De Haan, head of petroleum analysis at GasBuddy. This marks a significant increase compared to previous years, reflecting ongoing inflationary pressures and supply chain issues. The announcement was shared via a social media post, highlighting the growing cost burden on consumers.

Bias read (Center): The article presents factual data about rising gas prices without overtly criticizing or praising specific political entities or policies. It focuses on economic indicators and market trends, which are generally considered non-partisan. While gas prices are influenced by political decisions, the报道本身

Why factuality (80): This article cites GasBuddy as a reliable source and provides specific details about the record-high price. It includes a quote from Patrick De Haan, adding credibility. The mention of historical data strengthens its factual basis.

Why objectivity (85): The article is presented in a neutral tone, focusing on data and expert statements without emotional language. It clearly states the record-breaking nature of the price without implying judgment.

Bloomberg News logoBloomberg NewsIndependent🔒CenterFactual 75Objective 7010 days ago
US Gas and Diesel Prices Likely Heading Higher, Blanch Says

Francisco Blanch, head of commodities and derivatives research at BofA Securities, discusses current trends in global oil markets. He notes that China has become adept at managing its energy consumption and is now acting as a 'swing buyer' of oil, meaning it can influence supply dynamics. Blanch explains that low U.S. oil inventories could lead to higher gas and diesel prices. However, he also suggests that oil prices might decline by 2027 if conditions stabilize in the Strait of Hormuz, a critical shipping chokepoint. The comments were made during a segment on 'Bloomberg Surveillance.'

Bias read (Center): The article presents analysis from a financial expert regarding oil price trends, focusing on market factors such as inventory levels and geopolitical considerations. There is no overt ideological framing or emphasis on political agendas. The discussion remains focused on economic and market data,平衡

Why factuality (75): The article discusses potential future price increases based on Francisco Blanch's analysis. While it references a credible expert, it speculates rather than confirms current prices. It also mentions possible price drops in 2027, which is forward-looking and less verifiable.

Why objectivity (70): The tone is somewhat analytical, with a focus on market trends. It presents both potential increases and future decreases, showing some balance. However, the speculative nature introduces a slight editorial angle.

The Hill logoThe HillIndependentCenterFactual 65Objective 7511 days ago
Stubborn gas prices stick to $4 per gallon

Gasoline prices in the United States have remained consistently around $4 per gallon, despite being later in the summer season. This high price point persists due to ongoing uncertainty surrounding the Iran war's development. The article notes that such prices are unusual for this time of year, highlighting concerns over potential geopolitical tensions affecting fuel costs.

Bias read (Center): The article presents gasoline prices as a persistent issue influenced by geopolitical factors, without overtly favoring any particular political stance. It focuses on the economic impact and external uncertainties rather than taking a clear ideological position. The framing remains neutral, focusing

Why factuality (65): The article reports that gas prices remain around $4 per gallon, which aligns with multiple sources. It mentions the Iran war as a factor, which is a common explanation for price stability. However, it lacks specific data points or quotes from primary sources, making it less factual compared to arti

Why objectivity (75): The tone is neutral, presenting facts without strong emotional language. It uses phrases like 'stubbornly stuck' which may slightly imply frustration but overall maintains a balanced perspective.

The Hill logoThe HillIndependentCenterFactual 65Objective 7511 days ago
Gasoline prices stick at $4 per gallon as war drags on

Gasoline prices in the United States remain at approximately $4 per gallon, which is higher than usual for this time of year. The situation is attributed to ongoing uncertainty surrounding the Iran war, which has contributed to sustained high prices. Tom Kloza, a chief oil analyst at Gulf Oil, noted that consumers are paying more than they have at this point in the summer. The article highlights the impact of geopolitical tensions on fuel costs but does not provide specific data or further details on price trends.

Bias read (Center): The article presents information about gasoline prices and their connection to the Iran war without overtly favoring any particular political stance. It cites an expert opinion but does not frame the issue in a clearly left or right-leaning manner. The focus is on economic impact and geopolitical因素,

Why factuality (65): This article mirrors the first in content, reporting gas prices at $4 per gallon and linking them to the Iran war. While consistent with other articles, it does not provide new data or expert commentary, limiting its factual depth compared to others.

Why objectivity (75): The article presents information objectively, quoting an expert (Tom Kloza) without bias. It avoids taking sides on the cause of the price stagnation, maintaining a neutral stance.

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