I don’t come out and say this very often, but gas prices are too high right now in Michigan. The type of calculations I use says we should be in the $2.88 to $3.10 range right now. Prices dropped by 10 cents in Fort Wayne yesterday, and when you look at the nationwide map, [...]
0 comments Wednesday 26 Jul 2006 | Ed Aboufadel | Predictions
Wholesale prices rose slowly at the end of last week, indicating a 20-cent margin price (with HU/RB averaging) of $3.12. Although prices were below $3 in most places on Monday morning, given how slowly I thought retail prices were dropping over the weekend, and the slight lowering of tensions in the Middle East, I thought [...]
0 comments Monday 24 Jul 2006 | Ed Aboufadel | Predictions
NYMEX prices have dropped some since Friday, and apparently supply is up this week. The 20-cent margin price this afternoon at about $3.03 (using the HU/RB average). We should see gas below $3 throughout the area by Sunday. I don’t forsee another price hike this week.
The prediction was basically CORRECT, except [...]
0 comments Wednesday 19 Jul 2006 | Ed Aboufadel | Predictions
I have had some personal and professional responsibilities this past week, so I haven’t been able to follow things closely, but “oil at an all-time high” has been all over the media, and gas prices on NYMEX have jumped, too. That makes Friday’s price re-set (by everyone!) to “just” $2.99 a little odd. [...]
0 comments Saturday 15 Jul 2006 | Ed Aboufadel | Predictions
Hi all! Its Wednesday, and you know what that means?
The DOE report came out today (like every week) with some facts about gasoline usage last week:
*Refineries ran at 90% of capacity
*OIL inventories dropped 6 million barrels (the most in a long time!)
*GASOLINE inventories dropped 400,000 barrels
*Overall gasoline demand was 1.7% higher than last year for [...]
0 comments Wednesday 12 Jul 2006 | Patrick | Predictions
Monday, July 10, 2006, 1:30 PM: New York traders took Friday’s employment report to mean that the economy is slowing, which translates into less demand for gasoline, which means lower prices. I don’t know about the economy, but NYMEX HU prices are below $2.20 today, which has translated into retail prices below $3 [...]
0 comments Monday 10 Jul 2006 | Ed Aboufadel | Predictions
