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0 comments Monday 13 Aug 2007 | Posted By Patrick | Commentary

Tropical depression #4 has formed today in the Atlantic with strengthening definite. This is the point where wholesale prices may find support for $3/gallon again, so be weary! If possible, grab some gasoline jugs and fill them- it could get sticky in a few weeks (higher gasoline prices).
Stay with me for the latest as I [...]

0 comments Monday 13 Aug 2007 | Posted By Ed Aboufadel | Commentary

Comment on last week’s prediction:  The prediction was CORRECT as prices got down below $2.70 in several places.
Monday, August 13, 2007, 1:45PM:  I started to wonder about a looming price hike to $2.89 when I saw gas for $2.68 on Sunday, but I didn’t have time this morning to post a prediction.  Patrick posted a [...]

1 comment Sunday 12 Aug 2007 | Posted By Patrick | Predictions

As the local gap between high and low prices widen, I am fearful for a hike. Not only because my benchmark station re-raised after a drop to 2.68, but also because the same station is now at 2.75, and we’re usually 10-20 cents higher. PADD numbers last week could be the reason we haven’t seen [...]

0 comments Wednesday 08 Aug 2007 | Posted By Patrick | Commentary

The DOE Report has just come out with some quite bad news.
The obvious:

Refineries operated at a measly 91.3% of capacity, down from 93.6% last week.
Crude oil imports were down 419,000 barrels per day compared the the week before
Gasoline production dropped compared to the week before, down to 9.2 million barrels per day
Crude oil inventories dropped [...]

0 comments Tuesday 07 Aug 2007 | Posted By Ed Aboufadel | Predictions

Tuesday, August 7, 2007, 2:45 PM:  As Patrick has noted, wholesale prices took a dive yesterday.  At the same time, there was a price re-set in Indiana to $2.75.  Since they tend to be a dime cheaper than us, that gives us an approximate 20-cent margin price of $2.85 and a 0-cent margin price of [...]

0 comments Monday 06 Aug 2007 | Posted By Patrick | Predictions

As of 3pm today, we’re seeing wholesale gasoline prices dive to under $2 for the first time since this past Winter. Much of this can be traced to the recent higher refinery output, the fact we’re in the last weeks of summer, no major hurricane activity, and worries about demand and the economy.
We should see [...]