Platts' Experts Show the Dramatic Impact of Hurricane Katrina on the UK Gasoline Market

Platts' Experts Show the Dramatic Impact of Hurricane Katrina on the UK Gasoline Market

LONDON, September 2/PRNewswire/ -- The impact of fuel shortages in the US following Hurricane Katrina is
being felt globally, with gasoline markets across the world rising sharply as
US refiners scramble to buy in product from abroad.

The following chart shows the dramatic wholesale price increase of
gasoline in Europe's physical market to more than US$100 per barrel in the
wake of hurricane Katrina, as compared to US$77 per barrel on Friday 25,
August, 2005.

European supplies have been the main target of US Gulf Coast refiners who
need urgently to substitute production from refineries damaged by Hurricane
Katrina and the subsequent widespread flooding in the region.

"Hurricane Katrina is going to cost everyone, no matter where they live"
says Jorge Montepeque Platts Global director of markets. 'Announcements by
the International Energy Agency it would release oil stockpiles have cooled
off markets a bit but the upward pressure remains on retail markets,' he
added.

Gasoline prices in key refining centers around the world, from the
Caribbean to Singapore, rose sharply in the wake of the disaster.

Platts is at the forefront of the oil pricing industry, monitoring,
analysing and assessing the changing oil price and market dynamics 24 hours a
day. Platts' market specialists can provide accurate and informed comments.

About Platts:

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enhance their performance through such offerings as independent industry news
and price benchmarks. From 15 offices worldwide, Platts covers the oil,
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Source: Platts

Karen Cleale, Media Relations, +020-7176-6153, +07880-592-137, Karen_cleale@platts.com /NOTE TO EDITORS: Platts has a broadcast studio on premises./

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