Vitol Inc. President Mike Loya Discusses Memorial Day Gas Prices as Motorists Hit the Road

HOUSTON, TX--(Marketwire - May 22, 2009) - With fuel, airfares, and hotel room prices down, more vacations are being planned this summer. As Mike Loya, president of Vitol Inc., explained to Focus Washington today, that could mean higher gas prices for consumers over the Memorial Day holiday. The interview can be viewed at www.focuswashington.com.

As Mr. Loya explained, the traditional summer spike in gas prices begins around Memorial Day and continues throughout the summer months. Even with the recession, demand for vacations will remain high as additional travelers are enticed by tremendous bargains on travel, airfare, and lodging prices. According to Mr. Loya, as Memorial Day arrives, refineries typically flush out their systems in preparation for costlier summer blends of gasoline and motorists gear up for travel. These conditions create a natural increase in demand.

The American Automobile Association (AAA) suggests that the number of people in the United States who will travel at least 50 miles from home during the Memorial Day holiday will increase 1.5 percent over last year to about 32.4 million. This is fewer than the 35.3 million Americans travelling in 2007, but more than the 31.9 million travelers in 2008.

"Vitol plays a vital role in providing liquidity to the global oil market to create competition," said Mr. Loya. "As we move oil and products around the world, bringing together buyers and sellers, Vitol helps to ensure increased demand is met with supply."

Mr. Loya is in charge of Vitol's North and South American operations. Vitol is one of the world's largest oil and gas traders, responsible for the global delivery of 260 million tons of crude oil and energy products. Mr. Loya oversees a team of some of the most experienced traders in the business, who ensure Americans receive the energy they need to travel and conduct business.

Focus Washington is streamed to subscribers. It is also available at www.focuswashington.com.

About Vitol

The Vitol Group operates worldwide and is one of the world's largest physical oil trading groups. Vitol's main operations are based in Geneva, Houston, Singapore and London and in addition to its crude and product trading businesses, has a growing presence in the gas and power, carbon emissions and bio-fuels markets. Vitol also has interests in various oil storage terminals and exploration and production projects worldwide.

For more information about Vitol Inc., visit www.vitol.com.

For more information about Vitol terminals, www.vtti.com.