Oil, Gasoline Prices to Hover Near Current Levels through the Summer-BMO Economics
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 06/28/12 -- Crude oil and gasoline prices are expected to hover near current levels through the summer, with the possibility of some further modest declines at the pump, according to Earl Sweet, Managing Director and Senior Economist, BMO Capital Markets.
"Over the summer driving season, gasoline pump prices will follow the lead of crude oil prices, which have swung sharply over the past year," said Mr. Sweet. "First, they moved higher as supply risks in the Middle East and North Africa leapt to the fore and, subsequently, sharply lower on intensifying euro zone stresses and slowing economic growth in China.
"At the moment, economics is trumping supply risk and this is likely to prevail until there are signs that European policy makers are taking sufficient steps to deal with their sovereign debt and banking crisis. Unless European leaders agree to decisive measures at their month-end summit, investors are likely to maintain a general aversion to risk assets, including crude oil," concluded Mr. Sweet.
Regardless of the direction oil and gas prices take this summer, it makes good sense for consumers to conserve fuel in any way they can. BMO provides the following smart steps to save gas and spare the wallet:
Bonus tip: Roadside assistance plans can save you money on costly towing and emergency services. Most plans cover towing, battery boost or flat tire change, but they also limit the number of service calls per year. BMO Bank of Montreal MasterCard enhanced roadside assistance package ($98/year) includes unlimited service calls, up to 250 km towing distance, and free coverage for additional cardholders.
Contacts:
Media contacts:
Peter Scott
416-867-3996
Carol Greene
416-867-3996
Ronald Monet
514-877-1873
Laurie Grant
604-665-7596
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Datum: 28.06.2012 - 10:00 Uhr
Sprache: Deutsch
News-ID 160820
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TORONTO, ONTARIO
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Insurance
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