Today’s Department of Energy report indicates a less gasoline around than expected, so the futures prices are up today, to $1.92. That corresponds to a new 20-cent margin price (with 8-cent Midwestern Premium) of $2.74. Given Speedway’s recent pricing behavior, I think we see another price hike Thursday or Friday. On Thursday, [...]
0 comments Wednesday 29 Mar 2006 | Ed Aboufadel | Predictions
15 minutes ago, I updated my spreadsheets then took a look at early trading on NYMEX. Oil and gas prices there are up this morning, but was it enough for a price hike soon, I wondered. Then I went to grandrapidsgasprices.com, and someone posted that Speedway is switching over to $2.65. I checked [...]
0 comments Tuesday 28 Mar 2006 | Ed Aboufadel | Predictions
With the futures prices bouncing up 7 cents today to $1.80, that puts the 0-cent margin price at $2.32 and the 20-cent margin price at $2.53. Tack on several more cents to reflect the recent difference between Chicago and New York prices, and we are looking at a price hike to $2.59 or more [...]
0 comments Thursday 23 Mar 2006 | Ed Aboufadel | Predictions
I was contacted by WZZM-13 last late week regarding gas prices, and some of you saw me on the news on Sunday. In preparing for the interview, I did a review of what has happened the past five years in March, and a pattern emerged. In four of the five years, we had [...]
0 comments Monday 20 Mar 2006 | Ed Aboufadel | Predictions
Another price hike to $2.59? What is going on here? I’ve been laying low this month because I am having trouble figuring this out. The weekly report that the DOE publishes on gas prices (tonto.eia.doe.gov/oog/info/twip/twip_gasoline.html) does indicate that wholesale and retail prices in the Midwest are running at least 10 cents higher [...]
0 comments Tuesday 14 Mar 2006 | Ed Aboufadel | Predictions
The price hike on Tuesday still doesn’t make sense to me, but since the end of the day Monday, wholesale prices via NYMEX are up 18 cents. Suddenly, the 0-cent margin price is $2.23, and prices in the $2.40’s don’t seem crazy. The trouble is that we usually get a big price hike [...]
0 comments Friday 03 Mar 2006 | Ed Aboufadel | Predictions
