Comment on the March 16 prediction: We have only had one price hike in the past two weeks, to $3.39 on March 25, so the prediction was WRONG.
Saturday, March 29, 2008, 4:30 PM: On March 3, the wholesale price was $2.68 on NYMEX and $2.43 on AXXIS-Chicago, and the retail price was $3.05. During March, [...]
0 comments Saturday 29 Mar 2008 | Ed Aboufadel | Predictions
Seeing as how refiners were losing money for parts of this week refining oil into gasoline, utilization was low. It is rare, but refiners were losing some money last week as the cost of a barrel of oil was *more expensive* than the cost of their finished gasoline. They were losing cents on refining every [...]
2 comments Wednesday 26 Mar 2008 | Patrick | Predictions
Watch out for a possible gas price hike to $3.25-$3.29 tomorrow or Tuesday. Prices have drifted lower and wholesale prices have been similar to riding the Magnum (R) lately.
I filled up this evening for $3.14/gallon… odds are pretty high that we see this hike passed on.
Fill’er Up!
FYI- The latest DOE report still had Midwest gasoline [...]
0 comments Sunday 23 Mar 2008 | Patrick | Predictions
Afternoon update:
I’m closely monitoring a huge selloff in gasoline and oil markets at this hour. Gasoline futures are down nearly 20 cents per gallon (7%+!) and oil futures are negative as well.
This could be a significant turnaround for oil and gasoline as MANY now fear the economy may be more damaged than previously thought after [...]
0 comments Monday 17 Mar 2008 | Patrick | Commentary
Sunday, March 16, 2008, 6:45PM: The annual Gas Game March Madness continues, as we got a hike to $3.45 last Tuesday. Although retail prices have drifted down from that price (with as low as $3.28 in Allendale), wholesale prices have ticked a bit higher, setting up for a hike to at least $3.49 on Monday [...]
0 comments Sunday 16 Mar 2008 | Ed Aboufadel | Predictions
As gasoline prices try to stay ahead of crude prices, the pain at the pump has been increasing as you’re aware. $3.45 was last time, but what next? Well, according to my benchmark in Indiana, we may soon see $3.55-$3.65. More likely towards $3.55-$3.59.
I would keep your tank full and keep a watchful eye [...]
0 comments Thursday 13 Mar 2008 | Patrick | Commentary
