Archive for the Tag 'DOE'

80 million barrels of oil floating in the ocean, owners betting and hoping for higher prices

Just to warn you, this post will be a bit lengthy, but may be incredibly insightful for some. First off, it looks like Ed has predicted a hike to $1.99. We’ll see if he’s right on… if you can get gas for around $1.80, fill up like I did tonight just in case. I’m not [...]

Temporary respite in gas price hikes likely… prices to fall!

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 [...]

Be careful! Price hike possible today!

Tread carefully today folks! We may see an increase this morning to $1.69 or so. If it doesn’t happen by 11am, we’re off the hook for today, but with recent conditions around the Midwest, it may be possible that we see a hike here in West Michigan this morning. Fill up if you can find [...]

A painful memory- something to be thankful for…

It’s been quite a downhill in gas prices since nearly three months ago. I remember filling up at $3.77 thinking it might go up. It’s been about two months since that day and gasoline really has only taken one temporary price hike. Let’s all be thankful. Don’t dive into that too much, it comes at [...]

Michigan exporing options to raise gasoline tax!

That’s right- the State is thinking of raising gasoline taxes now that the price of gasoline has come down. With gasoline under $2, the State is exploring options to raise gas taxes. And to think- "In five years… you’ll be blown away"… with what, new taxes? Thanks Jennifer! <– GIVE US YOUR OPINION IN OUR POLL! From the Associated Press: (News Story HERE) [...]

OPEC slashes production 1.5mb/day, but will it stop oil’s skid?

WRITTEN THIS MORNING (OCT 24, 7AM) This morning OPEC convened and arrived at a decision to cut 1.5 million barrels of oil per day. Many of you are likely asking what we can now expect and what will happen. Let me try to shed some light for you. It will be an interesting day on [...]

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