Have Prices Topped Out for the Summer?

Sunday, August 19, 2012, 9:45AM:  Have we topped out for the summer?  Since the August 10 re-set to $3.99, retail prices have been dropping into the $3.70’s, in part because wholesale prices have been falling, too.  Seems like they are getting those refineries and pipelines fixed.  We’ll keep monitoring the brother-calls theory.  As of Friday’s close, I calculate a price-to-retailers of $3.67 a gallon, which corresponds to a price floor of $3.57.  With $3.75 being the cheapest in Grand Rapids, we have room to drop further.  So, the earliest I would anticipate a price hike in Thursday, and that depends on how the markets trade the next few days.  Prediction:  falling prices continue. — Ed Aboufadel

Updated: August 19, 2012 — 9:43 am


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  1. What happens to the whole fuel scenario should Israel/Iran go at it? I think it will be an economic disaster that would be worldwide. Havn’t noticed a lot of talk along this line either…other then the Israeli’s sound like they are NOT backing down.

  2. Prices have topped out at $3.95, regardless of crude price, geopolitics, demand, or refining capacity. Took the oil industry a while to get there but here we are.

    Very clever.

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