31 Jan '17, 3pm

Bloomberg Intelligence: US border tax could boost gasoline prices average $0.30/gallon

Bloomberg Intelligence: US border tax could boost gasoline prices average $0.30/gallon 31 January 2017 If the proposed broad 20% border-adjustment tax were implemented and applied to the energy sector, the result would likely lead to a large increase in gasoline prices and a big premium in domestic oil prices vs. international, according to new analysis by Bloomberg Intelligence . Pump prices could rise an average $0.30 per gallon, with more sticker shock on the East Coast, which needs to import octane components as well as crude. The WTI-Brent spread, which has been negative since the shale boom, would quickly shift to a premium of more than $10 a barrel. PBF Energy and Phillips 66, the US refiners importing the most foreign crude, would have significant exposure to the border tax, Bloomberg Intelligence said. PBF, due to its East and West Coast refineries, is the least a...

Full article: http://www.greencarcongress.com/2017/01/20170131-b.html

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