The Car and Truck Fleet and Leasing Management Magazine

White House: Gas Costs to Rise Further

September 06, 2005

WASHINGTON, D.C. — White House Economic Adviser Ben Bernanke said that U.S. gasoline prices will likely rise further because of system disruptions following Hurricane Katrina, but will drop when supply lines return to normal, according to Reuters. Meanwhile, oil prices have moved relatively little in the past week as a result of the hurricane, because the global supply and demand for oil was not much affected. Bernanke said there is not much the United States can do about escalating global demand for energy except develop alternative sources of fuel.
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