Page 3 - Patrick Dehahn News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Diesel, $5.58 is far more of a cost to pay. americans, though, not being deterred. our travel survey indicating that 58% of americans to hit the road this summer, that's up from last year against a backdrop of record highs, fairly impressive but given the job market and the relatively strong economy, and the fact that most of the economy's reopened, i think that is leading to what we're calling insatiable demand for gasoline as we approach memorial day. >> patrick, obviously, there's different costs in different states. california drivers saw gas prices hit $6 a gallon and jpmorgan thinks that...

Possibility. >> so, what are people supposed to do? i imagine driving from station to station, looking for a nickel savings a gallon is counterproductive, so how do they save money? >> well, exactly. nobody should be driving station to station. they can use an app like gas buddy or google or waze to find lower prices, especially for those hitting the road this holiday season. for memorial day, gas prices fluctuate significantly crossing state lines. they can be higher or lower. different regions of the country. obviously, the west coast, kind of the hot spot for prices, whereas inland, across ...

Incomes that are having a very hard time afford the increase in price. we are seeing an interest in people that aren't driving quite as far for their travels. this year's summer travel forecast indicated a lot fewer people driving over two hours to get to their destination, so it looks like people are kind of recalculating where they're going to go and not surprisingly, inflation is making things hard to plan. 70% of americans haven't really confirmed their summer travel plans yet. 40% saying the high price or high inflation is a contributing factor to that. >> patrick, on diesel, specifically...

In ukraine when president biden announced that we would not be importing any more russian energy, and this area in particular is so key to serving the midatlantic region, so when you have less diesel coming into this area, it can't get out quick enough to all of the businesses, all of the suppliers that need this critical oil in order to make their businesses run, and that ultimately, alisyn and victor, unfortunately, that gets passed down to the u.s. consumer. >> vanessa setting the table for our next conversation, thank you. patrick dehahn is the head of at the patrol petroleum analysis at g...

Trying to revive it. i'm really worried about the tax increases. if those tax increases are to pass, you're talking about the united states having some of the highest tax rates in the world. that's not good for american companies and the economy. >> jackie: ted made the point that we might see people deferring their gains to next year and they're going to get hit harder. might keep you up at night. gives me nightmares. happy new year. see you in 2022. >> happy new year. >> jackie: it's not just stocks that we're watching. the price of gas surged 46% this year. my next guest is right, they coul...