Ouch everyone!
Looks like the traditional Spring run up in prices is going much faster than anticipated.
Due to worries on the commodities market of a large draw in supplies
(due to cold weather last week), oil and gasoline futures are way up.
Back up to 1.70 wholesale when just a month ago we were at 1.45.
The price gain on the market today has me fairly certain that we’ll see
$2.49 very soon- perhaps tomorrow morning. The DOE report comes out
tomorrow, and if it is better than predicted we’ll likely see prices
dive. This sets up a situation unfair to the consumer. Prices go up
today on concern about a report tomorrow… then tomorrow that concern
reaches pumps in the form of a price hike. Then tomorrow when that
report isn’t as bad or is better than expected, prices dive on the
wholesale market… but that fall takes DAYS to reach the gas pump.
Keep those tanks full as we continue to see price hikes that will lead us to the opening of the driving season, Memorial Day!
A quick note: many stations in Cascade at East Paris and Cascade Road
area are at 2.25. I would definitely try and stop by this evening or
first thing tomorrow and top off.
~Patrick
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