Grand Rapids prices have been falling the last few days, and as I stated on a WOODTV8 interview this evening (5pm), I think we’ll see G.R. drop below $3 Tuesday or Wednesday before the DOE Report makes a potential effect on wholesale prices.
The rest of the nation should see prices moderating a good amount as well with gasoline prices closing the distance between diesel, which has averaged far under $3/gallon.
For the locations in the nation that have seen significant price changes since May (Grand Rapids saw 66 cents), they will see the larger decreases than those that only saw slight increases in May. (New Jersey has remained below average with small hikes, so they will see smaller decreases now than Grand Rapids- that has seen a 66 cent hike since early May)
I’ll be watching for the DOE Report Wednesday to look at three MAJOR factors that will effect prices this week and next: refinery utilization, imports of finished gasoline, and gasoline stockpile gain/loss.
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