GR Gas Prices: Ready for a fall?

Well, the tide may have finally turned Monday for gasoline prices.

Monday we saw prices drop roughly six cents. Today, after a morning
of flat trading, gasoline took another five cent dive to 2.05. We’ve
shed roughly 11-13 cents in two days.

A few weeks ago I said I didn’t think we’d see $3 nationwide this
summer. I think we “rounded the corner”.
We hit the peak. While prices may stay around this level for a while,
we should see things calm down, and PERHAPS… as I told WZZM13 a few
weeks ago, we have a CHANCE of seeing around $2.50.

Stay tuned. Gas prices should fall the next few days, so no need to
rush to the pumps. The DOE Report tomorrow will be a pretty big
report as well, as I expect refiners to have used around 88.5%-89.2%
of their capacity as they start producing lower RVP summer gasoline.

~Patrick

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