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0 comments Wednesday 25 Feb 2009 | Posted By Patrick | Predictions

As I said earlier today, gasoline prices are likely to jump across all Speedway States as soon as tomorrow to $1.99 or even higher.
I’ll follow up and let you know what’s going on.
As you may know, Midwest prices have been seen as low as $1.59, much lower than the national average today of $1.891 [...]

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 Wednesday 07 Jan 2009 | Posted By Patrick | Predictions

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 barrels [...]

2 comments Sunday 28 Sep 2008 | Posted By Patrick | Predictions

That’s right… Port Arthur’s major refineries have finally been restored power and all four of them have announced they are at the beginning stages of restarting their facilities. This is excellent news for everyone as these refiners mark the last facilities to come back online after Gustav and Ike battered the Gulf.
Prices nationwide should continue [...]

4 comments Tuesday 09 Sep 2008 | Posted By Patrick | Commentary

OPEC dismissed from their meeting late Tuesday night Eastern time and promptly said they had decided to cut production by over 500,000bpd.
I’m not sure how to react- first and foremost I feel that OPEC is unaware of global economic worries based on the high cost of oil. Secondly, I think they fail to realize that [...]

0 comments Wednesday 20 Aug 2008 | Posted By Patrick | Predictions

Ouch! What a terrible DOE report today, looks like large losses in gasoline stockpiles is becoming the norm. I’ll keep this short today so that I can enjoy just a little bit of vacation.
The DOE report as said was pretty rough for gasoline consumers. While oil inventories rose an amazing 9.6 million barrels, gasoline dropped [...]