Archive for the Tag 'oil'

We’re rounding the corner… Chinese Economic Stimulus to cause higher prices

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 [...]

Will we get under $2 before wholesale prices force a price hike?

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 [...]

Seemingly “glued-on” price digits tell the story: Gas STILL over $4 in parts of U.S.

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 [...]

$1.99, are you outta’ your mind?!

 
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 [...]

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 the market, [...]

Dow rises 900 points, gasoline rises as well.. hike soon!

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 [...]

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