Aztec Oil & Gas: Gasoline Prices Could Begin to Drop Soon

HOUSTON, July 17, 2012 /PRNewswire/ -- A recent increase in crude oil inventories stored in Cushing, Oklahoma has many industry analysts expecting a decrease in gasoline prices across America. Aztec Oil & Gas confirms these estimates and continues to help boost the country's oil supplies.

Natural gas increases in America have been making national news for months, however that is not the only fuel source that is experiencing record increases in the country. In fact, according to a recent report from The Los Angeles Times, crude oil supplies are displaying a continued increase when compared to the inventory rates of 2011. Much of this increase is due to strong supplies held at a storage hub located in Cushing, Oklahoma. While these increases may have American consumers anticipating a drop in prices to pay at the pump, Aztec Oil & Gas adds that these increases should encourage further research, development and drilling.

Although the storage hub at Cushing is responsible for a record-breaking total of 45.1 million barrels of crude oil as of May 2012, analysts are concerned about the geographic location of the facility. The article refers to the Cushing-location as one that is "landlocked" – meaning that it has very few pipelines that can direct the oil to refineries in areas such as the Gulf of Mexico. Although Aztec Oil & Gas is an oil and natural gas drilling company located in Texas and is closer to such facilities, the company shares concerns that more creative methods should be applied to get the fuel source to refineries.

The Texas-based company has many drills located in Texas, however they are also invested in smaller drilling projects developed throughout the Appalachian region. "Our company has just as much interest in easing oil transport to improve the state of gasoline prices and use for American consumers," notes Waylan Johnson, President of Aztec Oil & Gas.

While transportation is a slight concern for analysts, the trends still seem to be in favor for American consumers. In fact, the article states that when compared to the results of last year, 2012 crude oil supplies are not showing a potential for decrease throughout the year as they did in 2011. Johnson comments, "This means that consumers can expect a more steady supply of crude oil, meaning fewer fluctuations in the price they pay at the pump."

While fluctuations are not expected to be as violent as in previous years, prices still are expected to drop. According The LA Times, when these numbers were reported in May "the national average for a gallon of regular gasoline fell 0.6 cents overnight to $3.722 a gallon." Aztec Oil & Gas expects that these prices will continue to drop gradually, despite the traditional trend of price increases during summer months.

ABOUT:

Operating wells in Texas in addition to those located in the Appalachian regions of America, Aztec Oil & Gas, Inc. has become a steady supplier of natural gas and crude oil. The company follows a specific business model that is committed to discovering oil and natural gas supplies through gradual research and exploration. With the help of expert research and development teams, the company has made full use of innovative technology to discover uncovered wells that hold sufficient energy supplies.

For more information about the company, visit http://www.aztecoil-gas.com.

SOURCE Aztec Oil & Gas