Additionally, competition among local gas stations can drive prices down.
But while the prospect of competition was supposed to drive prices down, the opposite has happened.
The answer will drive prices and yields as the year draws to a close.
And foreign investors who fled the stock market after October will drive prices higher if they return, he added.
Analysts said all three companies could be forced to drive prices even lower.
A war would drive prices to $50 or higher, he added.
The fear is that the new supply will drive prices up and yields down.
The few trades that were completed, however, drove prices higher for four of the five companies.
But by this point, in early 1983, the price war rapidly drove prices downward.
In the end, it is the economy that drives energy supplies and prices, not the other way around.