Well its been a while since we’ve seen a price hike, but enjoy $2.10
(and less, according to GRGP.com) while it lasts. Today’s DOE report
showed some bad numbers for crude oil, gasoline, and distillate
inventories. They all fell, some more than expected. As for the Chicago
Discount we’ve been seeing for the past week or so, expect that to calm
down as well. We’re currently seeing about an 8-10cent discount
according to a source, making Midwest wholesale gasoline the cheapest
in the nation. Last week, the Midwest PADD fell from 52.5million
barrels to 51ish. Still a decent amount, however, I expect that
discount to drop to maybe 2-4cents per gallon.
The Speedway in Cascade has just reopened; obviously they had to fill
their tanks up with gasoline and they are currently priced at 2.39
(yes- 2.39 for that station today, even with the station across the
street much cheaper). That makes this weeks call a bit “easier”. I
believe that is the near the price all of Grand Rapids will see
tomorrow. We might get a break and see 2.35, but 2.35-2.39 is the
likely target for tomorrow AM.
Fill’er up!
~Patrick
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