Gulf Oil Chief Energy Adviser Tom Kloza predicted this week that gas prices are about to go through the roof.
Kloza argued Wednesday morning that onerous gas prices were about to spike even higher amid President Donald Trump's war with Iran and the subsequent stranglehold on the Strait of Hormuz.
"At this point, it looks like every single U.S. state will top $6/gal tomorrow or Thursday for sure,” Kloza wrote. "The next 24 hours will see staggering increases at the pump for both gasoline & diesel...Watch for huge increases in Great Lakes and Rocky Mountain states in particular.”
Kloza looked at the change in gas prices from Tuesday night into Wednesday morning and found a disturbing trend, he told followers on X.
“Overnight US prices advance to $4.37/gal for gasoline and $6.31/gal for diesel," he wrote. "Despite slightly lower futures' prices today, you'll see these numbers rise at the pump as marketers struggle to catch up to epic wholesale increases."
Kloza also noted the gross diesel margin had dropped 5 cents/gallon for marketers and gasoline hovered near 17 cents per gallon.
“This decade has typically seen fuel margins of about 40cts/gal," he wrote. "Brutality at the pumps.”
Kloza's opinion aligns with that of analyst Patrick De Haan, who warned Americans Wednesday morning to “Buckle up."
"Gas and diesel look set for a spike over the next 48 hours," De Haan wrote. "Hardest in parts of the nation's interior."
