The price of retail gasoline just dipped below $4 per gallon, AAA data showed on Thursday, but prices could rise to $5 per gallon by the end of the year, Goldman Sach’s Head of Energy Research Damien Courvalin told Bloomberg TV on Thursday. “We think that’s the level at which we need to see sustained pricing to eventually solve the market deficit,” Courvalin told Bloomberg. As for crude oil prices, Courvalin sees Brent climbing to $130 by the end of the year. “So we think Brent goes to $130 per barrel at the end of this year to reflect this need for sustained high prices.” “We’re still in deficit. Despite growth slowing, prices still have work to do, and that’s higher from here.” Goldman’s forecast assumes China’s demand for jet fuel and diesel only grows moderately from here until the end of 2023, pressured by its zero-Covid policy. That […]