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8 comments Wednesday 23 Jul 2008 | Posted By Patrick | Predictions

A good DOE report, good news here, good news there, congress acting… blah blah… prices are falling! Wholesale gasoline prices, as you can see from the ticker on the left have been taking another beating this afternoon after a quiet morning. Prices at this hour are down nearly another 11-cents… meaning nationwide price averages definitely [...]

2 comments Friday 11 Jul 2008 | Posted By Patrick | Commentary

Oil is $146 a barrel today. Want to know why U.S. supplies are OVER 50 million barrels below where they were last year? Want to know why oil prices keep rising? The two are directly connected, and its going to keep getting worse unless the dollar strengthens. As I said, today oil hit $146- a [...]

2 comments Thursday 19 Jun 2008 | Posted By Patrick | Predictions

Today’s market slid over 13-cents per gallon on positive news coming out of China: they’re finally lowering subsidies on oil and fuel products. The market immediately turned south after realizing that one of the biggest developing nations was now passing on higher prices to its consumers. This has the potential to turn the whole market [...]

2 comments Friday 06 Jun 2008 | Posted By Patrick | Predictions

OK. Its official. I’m furious about this oil market and the way speculators are fueling the market. Morgan Stanley predicted $150 by July 4. THATS THE MAJOR FACTOR pushing prices higher. Sure jobless claims went up, meaning possibly lower demand, and the Dollar stumbled, but honestly, the market is up WHY? We aren’t attacking Iran, [...]

1 comment 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… [...]

0 comments Wednesday 04 Jun 2008 | Posted By Patrick | Predictions

It’s been a while since I wrote here folks, but it seems prices have been “somewhat” steady around our region, and quite steady (what a surprise!!) in Grand Rapids. If you read my previous post about the Summer Forecast, you’ll have a better idea where this post fits in the big picture. Of course my [...]