As the year ends…
Sunday 30 Dec 2007 | Posted By Patrick | Commentary
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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