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7 comments Tuesday 10 Mar 2009 | Posted By Patrick | Predictions

A very unlikely situation (a good situation) has developed here in parts of the Midwest. I’ve noticed a trend that has resulted in much lower wholesale prices for the Chicago PAD District. Gasoline coming out of Chicago (which is most gasoline supplied to West Michigan), is currently DISCOUNTED nearly 30-cents from what it’s being traded [...]

1 comment Thursday 26 Feb 2009 | Posted By Patrick | Predictions

That’s right, I expect another good jump in gas prices, as soon as tomorrow (Friday) in many Speedway States. Speedway did not raise as high as anticipated resulting in a higher risk of a price hike sooner, and the wholesale market was up a large amount today.
Wholesale spot prices from Chicago rose 13-cents today and [...]

5 comments Wednesday 11 Feb 2009 | Posted By Patrick | Predictions

Today’s DOE report definitely wasn’t so hot- showing a large loss in gasoline stockpiles when an increase was expected. Traders polled were expecting a small 500,000 barrel increase in gasoline stockpiles and the DOE reported a loss of 2.6 million barrels.
In an interesting twist, supplies in storage in the Midwest region actually rose over a [...]

2 comments Friday 30 Jan 2009 | Posted By Patrick | Predictions

With the threat of a large strike being carried out by the United Steel Workers union and a large stimulus bill making its way through Congress, gas prices are going nowhere but up from the current national average of $1.85 per gallon.
Prices have advanced lately because of a growing number of traders who see the [...]

2 comments Monday 26 Jan 2009 | Posted By Patrick | Predictions

Bad news tonight for consumers, although I personally believe that some issues will be addresssed and corrected before disaster hits. Without wasting time, let me cover the issues.
First, we have a number of refineries reporting being completely shut down tonight, including a 245,000bpd refinery in Texas and a 108,000bpd refinery in Washington. We also have some issues [...]

1 comment Wednesday 17 Dec 2008 | Posted By Patrick | Predictions

Threatened with sagging oil prices, OPEC held a meeting today to decide if any additional production cuts should be made. This would be their third (?) meeting outside of their normal meetings in the last few months as oil prices have lost all their gains made in the last four years.
While OPEC tried the "shock and [...]