Catsimatidis told Forbes that the price of oil could reach $100 a barrel “in the next few days” but reiterated that this was a “temporary fluctuation”, arguing that prices would fall “just as fast” once the Strait of Hormuz is allowed to flow normally.
He added that he has not made any changes to his United Refining Company’s procurement or operations because he believes the conflict will end in “less than 30 days.” At the same time, he warned that “no one should even think of opposing the United States of America because they will be crushed.”
He also believes that international oil companies “love panic because they would like to earn more”, but he emphasized: “That is not our case.” He noted that he did not discuss fuel prices with Trump, but that he would advise him to “eliminate terrorists faster.”
Fuel prices at gas stations in the United States reached $3.45 per gallon on Friday, according to the AAA organization, which is almost 50 cents more than seven days ago, reports Index.hr.
The price of oil reached $90 per barrel on Friday, and Qatar’s energy minister warned that the price could reach $150 by the end of the month.
“We only produce fuel. It’s a world market. We will all feel the consequences. As we pay more for the product, we have to adjust the prices at gas stations,” said Catsimatidis.
According to Forbes estimates, Catsimatidis has assets worth around $4.8 billion. In the list of the 400 richest Americans for 2025, he is in 319th place, while in the global list of billionaires he is in 801st place.
Catsimatidis, who also owns the Gristedes supermarket chain, New York’s largest independent grocery chain, reacted strongly last summer when Zohran Mamdani, who campaigned for cheaper groceries and city stores, became the Democratic candidate for mayor.
Then he organized a press conference with small shop owners and threatened to close more than 30 of his stores. A few days after Mamdani’s victory in November, he told Forbes that he was considering moving the company’s headquarters to Florida, which never happened.
Catsimatidis is the founder and CEO of the Red Apple Group holding company, which owns the United Refining Company. Among his companies is a refinery in Warren, Pennsylvania, with the capacity to process about 70,000 barrels of crude oil per day, which employs more than 4,000 people.
Catsimatidis supplies fuel to approximately 400 company-owned gas stations under the Kwik Fill and Country Fair brands in Pennsylvania, New York and Ohio.
(Vijesti.ba)
