Wednesday 04 Jun 2008 | Posted By Patrick | Commentary
…At least as far as I can remember.
Wholesale gasoline is trading nearly 17 cents LESS per gallon… meaning WAIT to fill up if possible.
You can thank the DOE weekly report, lower demand, and higher supply. But don’t for one second think this means you can go back to that parked SUV anytime soon…
Patrick
Loading ...| Crude Oil Nov 08 | 77.70 | |
| Rbob Gasoline Nov | 1.81 |
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Rack prices followed the drop in the market last night at around 15 cents down (10 for Diesel).
As a perfect example of how much the speculators screw up the market, prices are up 14 cents so far today. Why? The Euro gained 1% on the dollar from $1.5440 to $1.5595. Talk about a major crisis!
So, instead of seeing prices drop into the $3.80’s (possibly $3.799 in places) this weekend, there is a pretty good chance that Speedway will restore to $4.099 tomorrow.
Any store that got a delivery today should be happy, everyone else got screwed.