Looking at morning numbers briefly this morning before an interview on WOOD AM1300, I think I might have to announce that I’m expecting a price hike soon to $2.19! A quick look at closing prices on the market from late last week and yesterday:Thursday close $1.42Friday close $1.47Monday close $1.54 As you can see, wholesale [...]
Archive for the Tag 'Chicago Premium'
As I prepare to head to Canada this weekend (and possibly away from the internet) I wanted to update everyone. The likelihood of a strike by the USW (United Steel Workers), the union that represents 30,000 workers, has risen. Both union officials and refining companies continue to make emergency plans, with union workers voting to [...]
After the expected Speedway hike to $1.99 Tuesday, we can expect a break in gas price hikes as the DOE released a favorable report on weekly oil inventories today. The report on oil and gasoline stockpiles contained some very good (bearish) news for the markets. It was expected that oil inventories were to gain 800,000 [...]
Posted by mobile phone:I hope you’re prepared, West Michigan… we’re going to see $2.99 soon!There have been large selloffs in gasoline that will benefit the Midwest the most. Other areas of the country aren’t paying a price premium like we are, and that’s started to dry up. A few days ago the Chicago premium was [...]
Edit: Speedway has just hiked to $3.95 in Michigan; while not totally shocking, this is something that might have been expected. The Gas Game gets quite difficult to predict at times like this! Another disappointing report from the Dept. of Energy this week, we can look for gasoline to trade higher today. Perhaps due to [...]
Fill’er up tonight! After a 7-cent drop yesterday on the market, prices have *already* shot right back up to what they were at the market open on Wednesday. $4.15 has been a popular re-hike amount lately, but I expect between $4.19-$4.25 tomorrow in Michigan depending on today’s final numbers. Since Midwest PADD dropped significantly this [...]