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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 [...]

4 comments Thursday 31 Jul 2008 | Posted By Patrick | Predictions

Today’s sneaky price hike was the result of a poor DOE report that showed gasoline stockpiles posting a surprising loss of 3.5mb when they were “expected” to rise marginally by 500,000 barrels.
The market yesterday was up 14-cents per gallon. It’s a weak excuse to rise prices, as only stations that bought gasoline today and late [...]

8 comments Wednesday 23 Jul 2008 | Posted By Patrick | Predictions

A good DOE report, good news here, good news there, congress acting… blah blah… prices are falling!
Wholesale gasoline prices, as you can see from the ticker on the left have been taking another beating this afternoon after a quiet morning.
Prices at this hour are down nearly another 11-cents… meaning nationwide price averages definitely should be [...]

1 comment Wednesday 16 Jul 2008 | Posted By Patrick | Predictions

Wholesale gasoline and oil prices continue their fall today, with gasoline shedding ANOTHER 13 cents… making the two day total OVER a 30-cent drop! If you can wait to fill up, prices around the nation will slowly be falling the next few days and over the weekend…
Here in Grand Rapids and in the Midwest, we [...]