“About at least 60 percent of the price you pay when you go fill up has to do with the price of crude oil,” Aixa Diaz, a spokeswoman for the AAA motor club, told The New York Times. “If it were to get above $80, or worse, it’ll be more noticeable at the pump.”
In the meantime, U.S. exporters will “definitely profit more,” Utting said. Nearly 15% of U.S. LNG volumes are uncontracted and can be sold on spot markets at higher prices. Also, many of the LNG buyers are Big Oil giants or global commodity trading houses that can redirect the volumes as needed. They just can’t increase the volumes much at all.
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