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If you had May 4 as the target day for 2007 gasoline prices hitting $3.00 gal, this is your lucky day and you can cash in on the office pool. The average retail price for unleaded regular hit $3.012 gal this morning, up 31.2cts gal in one month, but a Read More...
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I received almost a dozen phone calls and emails yesterday asking about the possibility of $4.00 gal gasoline prices this Summer. Never mind that the U.S. national average is more than 10cts gal shy of $3.00 gasoline - - that number isn’t sexy enough Read More...
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If you listen to some of the hysterical rants and hyperbole in oil circles this month, you might conclude that we are on our way to $80 bbl crude oil and $3-$4 gal gasoline . Do not believe the rhetoric and the scare stories. This particular rally is Read More...
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Retail fuel prices will move above $2.70 gal this week, and perhaps even flirt with $2.75 gal by Easter Sunday . But evidence is mounting that we are in the last throes of this high price insurgency. Of course, that sort of temperate prediction won’t Read More...
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Today could be quite a wild day in the oil markets . We’ll see the release of critical inventory and production data from the Department of Energy at 10:30 A.M. EDT. Meanwhile, crude oil futures are already up some $1.60 bbl to $64.53 bbl in overnight Read More...
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Yes, we are about to see $3.00 gal gasoline prices as an average , at least in the state of California . But no, this is not the beginning of the next fuel price apocalypse. But more on that in a moment. Note: You can keep up-to-date on this March Madness Read More...
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Yesterday marked the first instance since the third week of January that gasoline futures moved lower for two consecutive days. It’s worth noting because during the $1.00 gal or so spikes in 2005 and 2006, there were many such streaks of two or Read More...
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Within the next two weeks, Americans will see the first significant impact of the passage of the Energy Policy Act of 2005 . Daylight Savings Time will enable more motorists commuting home from work to see the higher prices in the light of day. The daily Read More...
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Gasoline prices remain on an extraordinary run. That run - - higher, of course - - will certainly continue for retail prices, but I expect it to calm for wholesale. Translation: although many states have average street prices some 15-30cts gal above where Read More...
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Today could be triple witching day for the oil markets. We have a still shaken world financial community, the key release of Energy Information Administration data petroleum statistics at mid-morning, and the expiration of March futures contracts. If Read More...
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Nationwide gasoline prices begin today at $2.37 gal, up 23cts gal in the last month, and some 13cts gal higher than last year. All Pacific Coast states have surpassed $2.50 gal, and California averages have trumped $2.83 gal. The last of the sub-$2.00 Read More...
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U.S. consumers this week may pay about $100-million more each day for gasoline than they paid during the week of the President’s State of the Union Address. Pump prices are up by more than 20cts gal since that late January week, and the gap could Read More...
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I undeservedly get attention as a “gasoline price guru”. There are two secrets for that notoriety. It is bestowed on me first and foremost because I have good TV “hair” for a gentleman who has passed the half century mark. But Read More...
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I’ll make this short . Rising gasoline prices will soon get front page attention in western time zones. Retail prices have mostly “crept” higher since late January, but some much more noticeable increases will soon occur in California, Read More...
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If you’ve read this blog before, you will recognize that yours truly is fond of horse racing metaphors. The oil market ran like Mr. Ed on Monday, crumbling under the pressure of weekend Saudi comments that indicated the Kingdom was quite happy with Read More...
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