Gasoline stockpiles fell by 5.5 million barrels, putting them in the lower half of the average range.
Refineries operated at 88.4% of capacity yet gasoline production has continued to lag (and fall, compared to last week)
Midwest PADD is NOW down to 48 million barrels!!
To BP’s refinery in Whiting, Indiana: WHAT ARE YOU GUYS DOING!? START RAMPING UP PRODUCTION!
best guess is that they are still undergoing maintenance and have not
yet resumed full production; it would explain the huge losses in the
Midwest PADD for the past month…
Guys, we could see wholesale prices hit 2.15 today, and we could soon see $3 per gallon.
REMINDER: these next 3-4 weeks should be the WORST WE SEE ALL SUMMER. Prices will moderate.
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