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 the same week
*Overall petroleum demand was down 1.5% over last year.
We’re currently seeing prices down to 2.89 in the Southeast GR area, and I filled up at 2.89 at the Eastown BP station, and many others were also locking in the 2.89 price.
Wholesale prices have me worried today. Prices locally are dropping lower, and I believe that a price hike may be possible soon. I am thinking 3.05-3.15 for a price hike, so I would fill up today.
A price hike is not 100% certain tomorrow, but likely.
Fill up tonight or EARLY tomorrow morning!