Gas prices could pick up in summer from refinery pressures

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Price Pressures,Market Domination

CIBC Private Wealth US Senior Energy Trader Rebecca Babin joins Yahoo Finance's Market Domination to talk about the price pressures in the energy market...

"Over the course of the summer, we're going to see a lift in gas prices, probably closer to that kind of $3.65, $3.70 level. Nowhere near the point where it starts to make people change their mind on consumption," Babin states."But I would expect we see a bottoming here, and throughout the course of the summer we see a little incremental rise as demand picks up...

I mean, the other interesting thing about all of this Rebecca is that we you know, we were, at one point during the year we were talking about concerns over oil prices being a feed into inflation even though yes, we know the fed doesn't watch oil specifically.But what if it, you know, sort of became, um, less transitory, so to speak, if, uh, companies sort of factored that into their cost, that doesn't seem to be a risk at this point.

So I think that's, that, that fear of inflation is still there and I don't think that's going to go away until inflation broadly is more contained and there's still going to be a focus on energy inflation and there's going to be fear around it.

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