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1 comment Monday 30 Jul 2007 | Posted By Patrick | Commentary

Its definitely been a while since I wrote here updating you all on gasoline prices! As you have all noticed, gas prices have slowly fallen to the $2.80s seen around the area today. Wholesale prices have slowly been falling, we saw a low of about 2.06 last week before a slight rise to today’s 2.0948. [...]

0 comments Thursday 07 Jun 2007 | Posted By Patrick | Predictions

Looks like Valero, the largest U.S. refiner has announced plans to shut some of its smaller units for maintenance- one because of a power failure June 1, the others unknown. Midwest storage zoomed up to 48 million barrels this past week, signaling more supply and a southward pressure on local prices. If this trend continues [...]

0 comments Thursday 17 May 2007 | Posted By Patrick | Predictions

Hi everyone… We’re hearing more bad news from a different refinery this time. Valero has announced that problems at Houston refinery have shut 130,000 barrels of refining per day. The profit for turning one barrel of crude into 2 parts gasoline and 1 part distillate is now $30.20, the highest since 1989, and $10 more [...]

0 comments Wednesday 16 May 2007 | Posted By Patrick | Predictions

Well, the DOE report was mixed. Here are some highlights: **Gasoline stockpiles added 1.7 million barrels, compared to the 1 million barrels analysts were predicting. **Oil stockpiles added 1 million barrels, compared to the 400,000 expected by analysts. **Gasoline demand is STILL up 1.0% over a year ago! DEMAND MUST DROP OR WE’RE IN TROUBLE! [...]

0 comments Thursday 10 May 2007 | Posted By Patrick | Predictions

Folks. I don’t get concerned much about gasoline stockpiles or gas prices, but since I made my summer “prediction” many weeks ago (saying we’d see closer to 2.70 gas on average), several big issues have come up that have me a bit concerned about the situation we’re in. Don’t get all hot and heavy here- [...]

0 comments Wednesday 09 May 2007 | Posted By Patrick | Predictions

The DOE report just came out, so here are some highlights: *Refineries operated at 89.0% of capacity, which was expected. *Gasoline production increased compared to last week, averaging 8.9million barrels per day. Distillate fuel production also increased to 4.2 million barrels per day. *U.S. oil imports averaged 11 million barrels per day, up 727,000 barrels [...]