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Good afternoon everyone.
At the time of this writing (noon EDT), gas prices, as predicted, have soared. Wholesale gasoline is up 18 cents a gallon right now as Rita threatens more oil facilities in the Gulf, while crude oil has added over $3/barrel to $66.
I’ll do the math for you- gasoline is up 10% right now, [...]

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Another hurricane heading into the gulf, and this time the NYMEX traders are panicking, with NYMEX futures up 20 cents already today. See, they’re not going to wait to see if there is any damage this time. So, expect higher prices, probably tomorrow, but I can’t get a bead on the new price. [...]

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Hello everyone!
Keeping you up to date on gas prices…
There is more major weather happening in the Atlantic that may threaten oil suppliers and oil rigs.
I am keeping an eye on soon-to-be Hurricane Rita. Right now, she is a tropical storm, but is forecasted to become a Hurricane very soon, and this worries me because as [...]

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Hello and happy Monday everyone.
Gasoline finally seems to be calming down after Hurricane Katrina. We are seeing gas drop pretty significant amounts, and I am also looking for even more price drops. Gasoline for October delivery was down another 8 cents on the market today… meaning prices at the pump should be making their [...]

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More good drops in gasoline prices on NYMEX should translate into lower prices over the next several days. Using this afternoon’s futures quote (approx. $1.85), and plugging into my formula (with a “fudge factor” of 0 cents), gives a 0-cent margin price of $2.37, and a 20-cent margin price of $2.59. So, c’mon [...]

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There’s a real disconnect right now between gasoline futures prices on NYMEX and retail prices around the country, and retail prices could easily be 25 cents lower right now. That means either there still are supply bottlenecks leading to higher wholesale prices than are being captured in the futures market, or the retailers aren’t [...]

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