"If more crude oil enters the global markets, whether it's from U.S. exports or from Iran or from production anywhere, it would tend to lower the global oil price, which would tend to lower gasoline prices in the U.S.," EIA Administrator Adam Sieminski told the Senate Committee on Energy and Natural Resources at a hearing last week.
"So one of our reports does suggest that allowing more exports of crude oil will either be neutral or lower the gasoline price," Mr. Sieminski said. "There were a few studies that suggested it could cause gasoline prices to go up. That seems to be a pretty low probability in our view."
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