It also would allow technological flexibility by manufacturers to achieve improvements in environmental performance. By assuring that incentives are tied to a vehicle s performance rather than simply rewarding a specific technology, we have broken new ground. This legislation represents a quantum leap forward in helping develop the next generation of motor vehicles. EIA data indicates that inventories of conventional gasoline, reformulated gasoline, and blending components are running below the 5-year average inventory levels despite higher production levels. While the price impacts are being felt across the Nation, the Midwest seems to be facing the most significant price increases for reformulated gasoline and the Gulf Coast appears to be taking the biggest hit on the price of conventional.
Preliminary indications are that prices are still rising nationwide.
Meanwhile, the EIA is predicting a slight increase in demand for gasoline this summer despite a slowing economy. Increased demand, lower than normal supplies, and diminished refining capacity are strong indicators that this summer could be a banner year for high gasoline prices. As we go into the summer driving season, State and Territory Energy Offices should continue to monitor EIA data and pay particular attention to the status of terminals, pipelines, shipping concerns, and refineries that supply your gasoline. The slightest bump in the road could cause volatile swings in prices this summer and possible supply disruptions. The Whitehouse announced today, that the President intends to nominate David Garman to be Assistant Secretary of Energy for Energy Efficiency and Renewable Energy.