Well, hold on a second- the DOE report just came out, and you can expect gasoline to rise today…
The DOE report was… BAD.
Refinery utilization DROPPED to 87.8% this week after continued refinery problems kept gasoline stockpiles from building. Gasoline stockpiles are now WELL BELOW their average for this time of year. They fell an unexpected [...]
0 comments Wednesday 25 Apr 2007 | Patrick | Predictions
Tuesday, April 24, 2007, 11:15 AM: I will use the occasion of yesterday’s price hike to $2.95 — predictable but not predicted by me — to describe the genesis of this price hike.
On Wednesday the 11th, prices jumped to $2.95, and the NYMEX RB price — a good estimate of the wholesale price — [...]
0 comments Tuesday 24 Apr 2007 | Ed Aboufadel | Commentary, Predictions
OUCH! Well, I stumbled upon the reason the Midwest PADD is down so much… and it does NOT bode well for us. (This is the refinery that I frequently talk about in Whiting, Indiana, near Gary)
Quote from Bloomberg
BP Plc, Europe’s second-largest oil company, said its Whiting, Indiana, refinery has cut production to about half its [...]
0 comments Tuesday 24 Apr 2007 | Patrick | Commentary
Well, after going down for several days on the wholesale market, we’redown to that level in Grand Rapids (2.67) that will require a pricehike. After getting down to 2.05 last week, wholesale prices are backup to 2.13. We should see 2.85-2.89 locally, as nationwide prices arestill near 2.89.
Get that gas for 2.67 first thing before [...]
0 comments Monday 23 Apr 2007 | Patrick | Predictions
Well, the DOE report was mixed: both good and bad.
The great news:Refiners out did just about every prediction and utilized 90.4% of their capacity last week. Professional analysts expected refiners to use 88.7%, so this very much surprised them. I had predicted refiners to use up to 89.2% of their capacity so this too surprised [...]
0 comments Wednesday 18 Apr 2007 | Patrick | Commentary
Well, the tide may have finally turned Monday for gasoline prices.
Monday we saw prices drop roughly six cents. Today, after a morningof flat trading, gasoline took another five cent dive to 2.05. We’veshed roughly 11-13 cents in two days.
A few weeks ago I said I didn’t think we’d see $3 nationwide thissummer. I think we [...]
0 comments Tuesday 17 Apr 2007 | Patrick | Predictions
