Month: December 2007

As the year ends…

As 2007 comes to a close, lets go over a brief review (seems like EVERYONE is doing a review of 2007- in pictures, in news, WHAT ELSE? Gasoline!)

>High Price for Regular Unleaded was $3.65 on May 29, 2007
>High Price for Diesel was $3.65 on November 19, 2007

>Low Price for Regular Unleaded was $1.85 on January 22, 2007
>Low Price for Diesel was $? on ?

We (PADD 2, Midwest) started 2007 with 53 million barrels of finished gasoline in stockpiles. This year, its looking like we’ll end at under 50 million barrels. Not a huge loss, but incredibly bad news as last year was the worst in terms of a spring price run. We’re on target to beat last years “running of the bulls” at the end of winter.

I will continue to compile more data as time goes by here, but in the meanwhile, be on the lookout for a price hike tomorrow!

(I’m seriously thinking about ways to avoid this year’s price run up come Spring. At this point, I’m expecting national averages to hit $3.20-$3.70, which could find as much as half the U.S. with prices near $4. More on this later)

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We could end the year on a “high” note

Comment on my 12/19 prediction:  Nope, prices held steady until the day after Christmas, and then they went up to $3.15, so I was WRONG.

Thursday, December 27, 2007, 2:15 PM:  We got a nice Christmas present of several days of gas below $3, but, as Patrick has indicated, it looks a bit ugly going into the end of the year.  With NYMEX prices up again today, we have had a 17 cent jump in wholesale prices in the last seven days, giving the retailers ammunition to hike prices up to as much as $3.29 any time soon.  Since a lot of restraint was shown between the 20th and the 24th, we might get similar restraint tomorrow and Monday, so my advice is to keep an eye out for a price hike before New Years Day, but don’t bank on it.

OFF TOPIC- Mother dies while delivering triplets

I feel compelled this evening- not to talk about gasoline prices or even anything related to them- but to blog and ask for you to pray for Tina Hagenbuch and her family as she has slipped away from the grasp of life, delivering new life while sacrificing her own.

Tina passed away expectedly Thursday while giving birth to triplets.

WOODTV 8 is reporting the story out of Grand Rapids this evening, more can be found on their webpage, woodtv.com, or use this direct link:
http://woodtv.com/Global/story.asp?S=7527243

I briefly took a look at her MySpace page and felt compelled and saddened by the loss of a wife, mother, and to many, a friend.

I have no connection to Tina, but please- pray for her and her family during this time of need, time of questions, and time of sadness.

~Patrick

Expecting $3.09 again before the long holiday weekend

Comment on Friday’s prediction: Prices have fallen the past several days, below $3 in many places, so a CORRECT prediction.

Wednesday, December 19, 2007, 3:30 PM: Of note is that the NYMEX and AXXIS prices have been pretty much the same for a month now, which demonstrates that there is no Chicago premium on prices right now, as is usually the case this time of year. Also of note is that wholesale prices have been steady for the past several days, while retail prices have been dropping. To me, that means the odds are high for a price re-set back to $3.09 on Thursday or Friday, and that is my prediction.

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