A key gasoline contract is signaling more pain at the pump for Americans. Andy Lipow, the president of Lipow Oil Associates, estimates that the rebound of gasoline futures, up over 30 cents per gallon, will end the recent pullback of pump prices.
The White House has banned all Russian oil and gas imports, but ramping up U.S. production is not that simple. Companies not only need hundreds of thousands of dollars to get equipment back up and running, they also need the manpower.may have eased slightly from their most recent highs, but for Americans the relief isn't projected to last, according to an industry expert.
Andy Lipow, the president of Lipow Oil Associates, estimates that the rebound of gasoline futures, up over 30 cents per gallon, will end the recent pullback of pump prices. Futures contracts allow traders to anticipate price moves and demand.
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