As we work our way down to 2.79 and possibly lower, keep in mind that a price hike will near as we get closer to 2.75.

Gasoline futures have dropped so the prices will follow, but keep in mind, we’re still not in the best shape…

I’ll be somewhat penciling in a hike for later this week, pending the DOE report on Wednesday and pending prices to slide even more. Any hike should not exceed $3 at this point in time which is nice, but we’ll see what happens later this week on the market.

Also- if you hear that oil stockpiles took a hit Wednesday, keep in mind thats an old tradition. The less inventory you have on hand at the end of the year, the less tax you pay on it. Refiners are drawing down on stocks and producing as much as they can before the end of the year. Will this play in to prices? You bet. It could go both ways.

Stay tuned!

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