$4.05-$4.15 coming Monday or Tuesday. Diesel to $4.75+.

After fielding through a few phone calls and seeing a news spot on Channel 8 “Gas Surprise” I wasn’t sure what to expect this morning. I logged on Channel 8’s site to try and find a gas story to see if I had missed something. Not really.

I then had a few text messages asking if gas was going up today, some sort of rumor? Well its not.

However, I believe with today’s news (Goldman Sachs upping oil forecast for 3Q&4Q to $141, China needing Diesel for recovery efforts) that we’ll see record oil prices (already over $127). Gasoline and diesel/heating oil are already way up, gasoline up 7 cents and diesel up 8 cents.

As long as these price increases stick tonight, I’m confident we’ll see $4.05-$4.15 come Monday (or as late as Tuesday if stations want to lose money), so MAKE SURE YOU’RE FULL on Sunday night.

Diesel will continue its climb to near $5 on this news and global supply worries, and I really don’t see an end in sight.

The pain at the pump continues.

Patrick

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