Gasoline inventories are up, up, up, and yet …

Comment on Tuesday’s prediction:  Stock prices drifted lower through Thursday and we did not get a price hike, so I guess the prediction was CORRECT.  Stocks hit new highs for the year on Friday, though.

Sunday, February 13, 2011, 7:45PM:  I know I am not going to have any time for postings the next two weeks, but I have time this evening to comment on a few matters.  First, although stocks hit new highs on Friday, wholesale prices dropped a bit after Mubarak resigned in Egypt.  So, at the moment, the 0-cent margin price is around $3.08.  With retail prices as low as $3.06 in Lowell, we are setting up for a price hike this week, but I can’t predict when or how much.

In related matters, here is another example of how the supply/demand dynamic has broken down, gasoline inventories are at 20-year highs, yet prices are clearly not dropping.   — Ed Aboufadel

Updated: February 13, 2011 — 7:45 pm

5 Comments

Add a Comment
  1. I’d like to know why gas prices took such a sharp spike this week. The situation in Egypt has been defused, the cost of a barrel of oil keeps going down on the stock market and yet gas prices have gone back up to where they were a few weeks ago when a barrel of oil was well over $90. Can you say price gouging?!

  2. Amen Tom!!! It’s a bit ridiculous for all the “speculation” and they seem to have an answer for everything [they being the speculators, etc.].

  3. Gas prices are now rising to $3.359 in Michigan.

  4. CORRECTION

    MICHIGAN – It’s going to $3.399 this morning on the west side of the state, $3.359 on the east side (which is closer to the only remaining refinery in the state in Detroit, owned by Speedway’s parent company Marathon). There used to be a refinery in Alma, I believe, but Marathon shut that down about a decade ago.

    OHIO – $3.399 in zip codes 456** and 457**, but $3.299 in the rest of the state.

    INDIANA – $3.369 statewide, with Indianapolis not updated yet. That’s an unusual price. They normally go to a number ending with a 5 or 9.

    KENTUCKY – $3.399 in Ashland, but $3.299 else where in the state.

  5. Speedway is spiking. $3.29-$3.39 depending on your state.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please leave these two fields as-is:

Protected by Invisible Defender. Showed 403 to 1,754,533 bad guys.

 

This site uses Akismet to reduce spam. Learn how your comment data is processed.

TheGasGame.com (c) All Rights Reserved Frontier Theme