As you may have noticed, gas prices have been slowly coming
down. Normally, for the Memorial Day weekend and through the summer, gas prices
go up due to increased demand and refineries switching over to summer gas. What
we are seeing is more oil in the interior of the U.S. due to extra oil
production through shale oil and gas production. There is enough production
that the Seaway Pipeline flow was reversed. The Seaway pipeline runs from
Cushing, OK to Houston, TX. Normally, it takes oil from Houston to refineries
in Cushing, OK. Now, since there is actually a glut of oil in the interior of
the U.S, the pipeline is taking oil from Cushing, OK to Houston. The extra oil
is causing prices to slowly drop.
