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2 comments Monday 10 Nov 2008 | Posted By Patrick | Predictions

I’m getting quite close to announcing a price hike in Grand Rapids and other Michigan areas as wholesale prices rise this morning, due to news of a Chinese Stimulus program to help their economy. This is not good news for consumers, as we’ve benefited from lower Chinese demand in the form of less competition for [...]

1 comment Thursday 06 Nov 2008 | Posted By Patrick | Predictions

I don’t like to be bearer of bad news, but I believe we are approaching the lowest gasoline prices we’ll see for a while. While gasoline prices usually "bottom out" in late November and early December, I believe with the dramatic fall in prices and negative profit outlooks for refining gasoline, it will result in [...]

6 comments Tuesday 28 Oct 2008 | Posted By Patrick | Predictions

Tonight as I step back and look at local prices, I see how high we are compared to several locales. We even sit higher on a regional level- Ohio is paying just $1.98 in areas!
 
Having set the stage, how would you feel knowing oil prices have slid if gasoline prices stayed at their record high [...]

1 comment Sunday 26 Oct 2008 | Posted By Patrick | Predictions

 
A Speedway gas station in Fairfield, Ohio is reporting gas prices at $1.99 tonight! Is Grand Rapids headed there? There is a remote chance… today’s COST is roughly $2.28 to stations, so we still have a lot of room to fall, and I expect local prices here to decline.
However, I am worried that oil prices [...]

0 comments Friday 24 Oct 2008 | Posted By Patrick | Predictions

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 the market, [...]

1 comment Tuesday 14 Oct 2008 | Posted By Patrick | Predictions

As of late, oil and gasoline have been virtually tied to the Dow as we look to economic woes as reasons to sell-off gasoline and oil contracts. With the Dow finally putting together a noteworthy rally, gasoline and oil both surged.
With a gain in wholesale prices along with much tighter Midwest supplies, we can expect [...]