close video GasBuddy analyst reports some states seeing 20 to 30-cent bumps at the pump
GasBuddy head of petroleum analysis Patrick De Haan warns retail gas prices will ‘accelerate’ in a few days due to OPEC’s surprise cuts.
After OPEC members announced surprise production cuts in its oil outputs just before the busy summer travel season, one GasBuddy analyst warned American drivers could see a gas price spike within "the next few days."
"I think it's just within a matter of the next few days, we'll start to see those retail gas prices accelerating as a result of those OPEC production cuts," GasBuddy head of petroleum analysis Patrick De Haan said on "Varney & Co." Tuesday.
OPEC’s decision to pump 1.15 million fewer barrels of oil each day, according to the expert, may force state gas price averages to increase anywhere from 5 to 15 cents.
"The week-on-week increase is only about a nickel, but we are starting to see some signs that states are going to go up big," De Haan clarified. "In fact, some big jumps today in the state of Ohio where prices seemingly jumping 20 to 30 cents, that's going to spread throughout the Midwest and then into Florida. Those states tend to be bellwethers that move first."
GAS PRICES COULD HIT $4 A GALLON AFTER OPEC PRODUCTION CUT
As of Tuesday, the price of regular gasoline averaged $3.50, according to AAA. This means if De Haan’s prediction is correct, gas prices could breach $4 in just a few weeks.
GasBuddy head of petroleum analysis Patrick De Haan warned of “big jumps” in gas prices within “the next few days” on “Varney & Co.” Tuesday. (iStock)
States in the Midwest and some parts of Florida have already shown signs of "price cycling," the analyst pointed out.
"They're the first to move, and they generally see really big corrections. So Ohio is starting to see some of those stations go up 20 to 30 cents, and I would say within the next 24 hours, we'll likely see the same happening in Indiana and Michigan, where stations could also get closer to $4, maybe $3.85 or $3.95 in those states," DeHaan said.
"That's a 20 to 30-cent bump," he emphasized, "and that's what the rest of the nation may start to see as well with the national average potentially rising 10 to 15 cents over the next week or two."
For those who use heavy machinery and require diesel, De Haan indicated that those retail prices "continue to moderate." close video OPEC’s oil cut surprise a ‘slap in the face’ to Biden: Phil Flynn
Payne Capital Management President Ryan Payne, Geltrude & Company founder Dan Geltrude, and The Price Futures Group senior market analyst Phil Flynn react to OPEC announcing oil output cuts on ‘The Claman Countdown.’
"We should see the average price for diesel continuing to inch down. Of course, that remains a wild card if OPEC further cuts oil production or if there are any refinery hiccups, that could change," De Haan said. "But diesel prices [are] continuing to moderate."
But less than 60 days away is hurricane season – one factor that Lipow Oil Associates President Andy Lipow says further complicates gas prices.
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Sen. Markwayne Mullin, R-Okla., addresses how OPEC+ plans to cut oil production by 1 million barrels a day on The Bottom Line.
"A major storm making landfall along the Gulf Coast, where 15% of the nation’s oil production and over 45% of the nation’s refinery capacity is located, can result in a significant supply disruption sending prices even higher," Lipow previously told FOX Business.
Oil production rose to nearly 12.5 million barrels per day in January, which is the highest level since March 2020, according to data from the Energy Information Administration.
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FOX Business’ Daniella Genovese contributed to this report.
As the defending Presidents’ Trophy winners, the New York Rangers were envisioned as a playoff team again in 2024-25. As the team on top of the league standings in early December, similar words could be written about the Minnesota Wild.
And yet, heading into Wednesday night’s matchup between the clubs (7 p.m. ET, ESPN+), nothing is certain about either team’s playoff chances after the pair has gone 8-9-3 in the past 10 games apiece.
The Wild enter the game in a playoff position, and have a 91.0% chance to make the playoffs per Stathletes. A key part of that is the team’s remaining strength of schedule; their remaining opponents have a 46.0% winning percentage, which is the second-easiest path. (Only the New Jersey Devils face a weaker slate in the final stretch.)
Compare that to the Rangers, who have a 27.3% chance, and will begin this game on the outside looking in. New York’s remaining slate is considerably more difficult; a 54.1% opponents’ winning percentage ranks as the second toughest, behind only the Detroit Red Wings.
If the Wild qualify as the first wild card, their likely first-round opponent is the Vegas Golden Knights; if they land in the second wild-card position, their likely opponent is the Winnipeg Jets. Unfortunately, Minnesota went 0-3 against both teams this season.
The Rangers’ more likely outcome as a playoff entrant is as the second wild card, which earns them a matchup against the Washington Capitals; the Caps have won all three games against New York this season. The Rangers could wind up as the first wild card, earning a matchup against the Atlantic Division champ. They went 1-2 against the Toronto Maple Leafs, 0-2 against the Florida Panthers (with one more game coming up on April 14), and 0-1 against the Tampa Bay Lightning (with games coming up on April 7 and April 17).
So, the future isn’t blindingly bright in the playoffs for these teams. But all you need is a ticket in, and unexpected things can happen!
There are just over two weeks left until the season’s end on April 17, and we’ll help you track it all with the NHL playoff watch. As we traverse the final stretch, we’ll provide details on all the playoff races, along with the teams jockeying for position in the 2025 NHL draft lottery.
Points: 80 Regulation wins: 26 Playoff position: N/A Games left: 7 Points pace: 87.5 Next game: vs. LA (Thursday) Playoff chances: 0.4% Tragic number: 7
Points: 62 Regulation wins: 23 Playoff position: N/A Games left: 7 Points pace: 67.8 Next game: @ DAL (Thursday) Playoff chances: 0% Tragic number: E
Points: 51 Regulation wins: 18 Playoff position: N/A Games left: 8 Points pace: 56.5 Next game: vs. COL (Wednesday) Playoff chances: 0% Tragic number: E
Pacific Division
Points: 98 Regulation wins: 42 Playoff position: P1 Games left: 8 Points pace: 108.6 Next game: vs. WPG (Thursday) Playoff chances: 100% Tragic number: N/A
Points: 68 Regulation wins: 25 Playoff position: N/A Games left: 7 Points pace: 74.3 Next game: @ VAN (Wednesday) Playoff chances: 0% Tragic number: E
Points: 50 Regulation wins: 14 Playoff position: N/A Games left: 8 Points pace: 55.4 Next game: vs. EDM (Thursday) Playoff chances: 0% Tragic number: E
Note: An “x” means that the team has clinched a playoff berth. An “e” means that the team has been eliminated from playoff contention.
Race for the No. 1 pick
The NHL uses a draft lottery to determine the order of the first round, so the team that finishes in last place is not guaranteed the No. 1 selection. As of 2021, a team can move up a maximum of 10 spots if it wins the lottery, so only 11 teams are eligible for the No. 1 pick. Full details on the process are here. Matthew Schaefer, a defenseman for the OHL’s Erie Otters, is No. 1 on the draft board.
Duclair played 12 minutes, 15 seconds in the Islanders’ 4-1 loss to the Lightning with zero points and finished at minus-1. He had only four shifts in the third period. It was the third straight game in which Duclair played 12:15 or less. He has averaged 15:03 in ice time this season, his first with the Islanders.
“He was god-awful. He was god-awful. He had a bad game. That’s why I didn’t play him a lot. And he’s lucky to be in the lineup. Sorry if I lose it on him right now, but that’s how I feel,” Roy said.
When asked what he’s seeing in Duclair’s game, the Islanders coach said “it’s an effort thing” for the veteran forward.
“He’s not skating, he’s not competing, he’s not moving his feet. He’s not playing up to what we expect from him,” Roy said.
Duclair has seven goals and four assists in 44 games with the Islanders, skating to a minus-15. The 29-year-old winger is averaging one point per 60 minutes — which would be a career low for the 11-year veteran. Duclair signed a four-year, $14-million free agent contract with the Islanders last summer and has a full no-trade clause through 2026.
New York is winless in its past six games, struggling down the stretch while chasing the final wild-card playoff spot in the Eastern Conference. The Islanders trail the Montreal Canadiens by five points with eight games to play.
VANCOUVER, British Columbia — Vancouver Canucks center Filip Chytil may miss the rest of the season after experiencing a setback in his attempt to return from another concussion.
Coach Rick Tocchet said Tuesday that Chytil has experienced good and bad days trying to work back. The 25-year-old from the Czech Republic has not played since getting concussed when he was hit from behind by Chicago’s Jason Dickinson on March 15.
“He would go out and skate and felt good, the next day not as good,” Tocchet said. “To be honest with you guys, does he play this year? Maybe the odds are against it. Plus you don’t want to put a guy in that type of position. But when a guy has good days and bad days, obviously you’re not going to play the guy.”
Asked if there was concern about Chytil’s hockey-playing career continuing because of his concussion history, Tocchet added he was not sure.
“I talked to him today and he said it was different than his last concussion,” Tocchet said. “The bad days aren’t as bad, so that’s a positive, so I think we’ve got to take the positive approach. Plus he’s got four, five months to rebuild himself, or who knows? We’ve just got to take it day by day with this guy right now.”
Vancouver acquired Chytil in late January as part of the return for trading J.T. Miller to the New York Rangers. Chytil has already had multiple concussions in the NHL and does not turn 26 until September.
The Canucks, who are making a desperate push to make the playoffs, are also not sure about the status of center Elias Pettersson, who has not played since getting injured March 22 against the Rangers. Tocchet said Pettersson was day to day.
Captain Quinn Hughes has missed time for a lower-body injury and winger Brock Boeser was temporarily sidelined by a concussion. All-Star goalie Thatcher Demko missed training camp and the beginning of the season as he worked his way back from a rare knee injury, then went down with another injury in February.
“There’s been a lot of things that’ve hit this team,” Tocchet said. “And you’re looking for culture stuff, right? Who’s all in and who’s not. When you have a lot of guys all buying in, you can withstand some stuff.”
The odds of making a playoff run aren’t in Vancouver’s favor, but everyone on the team is staying committed, Demko said, even as injuries continue to ravage the lineup.
“I think as a group, we’ve been through a lot this year,” Demko said. “It’s obviously not an easy situation right now with some of the guys out, but I feel like our effort’s been there every game. We haven’t mailed it in, we’re not using it as an excuse. We’re showing up every night and giving it a solid effort. So really proud of the guys coming together and trying to get some wins here.