Good afternoon from Orlando, Florida!
Thanks to Ed for writing his predictions this week as I took a short respite from things.
I noticed in Florida, a state with NO refineries, prices similar/lower than Michigan. They also have higher demand while Michigan has lower demand due to the Winter weather… so what gives? Florida is not a “Speedway State”. They have zero Speedways, and therefore, no brute force raising prices.
I saw a low of 2.85 near Tampa, FL, and a almost incorrectly priced high of 3.29 in Pompano Beach, FL (I say almost incorrect due to the fact that 3 stations had that price and two blocks away, the price was 3.09… ODD!)
Anyway, the time off was nice, and Wednesday’s DOE report was equally nice, with a good gain in gasoline stockpiles (now above the average range for this time this year).
In other news, could Shell be artificially inflating prices in Australia? More on that later! I’ll see you in Grand Rapids soon!
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