With Dean on a much more southern track than initially thought, wholesale prices of gasoline has taken a large hit overnight, mainly on relief that this huge hurricane will miss most of the U.S. oil and gasoline infrastructure.
As we sit now, wholesale gasoline prices have backed off a whopping 7.43 cents per gallon overnight. The selling could easily accelerate once trading becomes more active this morning.
I’ll have a wrap up later this afternoon if necessary.
Powered by ScribeFire.