Patrick De Haan

"Can’t underscore what a massive jolt this is to the logistics, trucking, (agriculture) sectors."

"If oil prices continue to retreat, it makes the odds of hitting $4 per gallon much less likely."

"A cease-fire itself would do little or nothing to impact oil prices directly, unless it directly and clearly impacts the current de-facto shutdown status of the Strait of Hormuz."

"With the U.S. not coming to agreement or terms with Iran, it is likely that the Strait [of Hormuz] will remain under their control and that oil prices and thus gasoline, diesel and jet fuel prices keep rising due to the likely continued closure of the Strait."

"Excise tax is basically a use tax on gasoline and diesel and other products."

""A lot of that is likely due to some of the manoeuvres that we've seen the Trump administration employ over the last couple of weeks.""