Alltop, all the top stories
October 26, 2006

Surprise Decline in Crude Supply

 

Analysts were expecting a decline in distillate supplies, but thought both crude and gasoline would increase. Surprise, surprise. For week ending 10/20, U.S. crude supplies down 3.3 million barrels, motor gasoline down 2.8 million barrels, and yes, distillate fuel down 1.4 million barrels.

Futures prices for Dec. crude up $0.94 at $60.29.

Filed under:Fuel Price Trends | by Pump Girl @ 1:22 am | 

October 25, 2006

Big Three Suffer

 

When the good news is reporting a “smaller” loss, let’s hear the bad news first.

GM is the star of the Three, reporting a net loss of $115 million for Q3 due to GMAC charges and the bankruptcy reorg of Delphi. The company has made drastic cost cuts (including buyouts for 113,000 hourly workers) and increased revenue. It’s “turning around.”

“Our third-quarter results again reflect significant progress in our fast-paced initiatives to turn around our business and create a company that is leaner, faster and positioned for long-term sustainable growth,” G.M.’s chief executive, Rick Wagoner, said in a statement.

Earlier in the week, Ford reported a loss of $5.8 billion(yes, that is supposed to be a “b”) for Q3. The worst since 1992.

Chrysler division, stuck with unsold pick-ups and SUVs, dragged DaimlerChrysler’s earnings down 37%. It sees improved sales performance through the upcoming introduction of new models. The division will get a critical review by the top dogs, and they are not smiling. Wall Street analysts favorite among the three a few short months ago, Chrysler might even get voted off the show.

“We are in no way satisfied with our third-quarter results” said Thomas W. LaSorda, the chief executive of the Chrysler division, in a statement. “We have taken dramatic steps to reduce production and shipments to address the inventory situation in the U.S., and we continue to work to find new ways to eliminate waste, lower our costs and improve quality.”

Next instalment coming 4Q.

Filed under:Fleet Managers,Fumes,Vehicle News | by Pump Girl @ 12:26 pm | 

October 24, 2006

Gasoline Prices Sink

 

retail_price.gifThe average retail price of gasoline fell hard from August to September. That would be a whopping $0.40, largest drop since the $0.46 coming off the hurricane season November 2005. Average price for 4Q 2006 s/b in the neighborhood of $2.29/gal.

(click to enlarge the graph)

Projected average gasoline prices for 2006 – $2.58. For 2007 – $2.51.

Filed under:Fuel Price Trends,Hedging | by Pump Girl @ 10:55 am | 

October 20, 2006

R.I.P. Taurus

 

taurus.jpegWe can hardly believe it, but the last of Ford’s #1 -selling car in the country will be assembled sometime next week. The Taurus has been discontinued.

This is the car that saved the company in the 1980′s. It was the new,new thing with its futuristic jelly bean shape.

The car also had a lot of new “surprise and delight” features including a cargo net to hold grocery bags in the trunk and rear-seat headrests and heat ducts, said Joel Pitcoff, the Taurus’ marketing manager at the time.

Oh, well. Ford focused on pick-ups & SUV’s. No updating for Taurus or many ad $$. Competitors copied and refined it.

No end-of-the-line party is planned in the Hapeville plant

Filed under:Fleet Managers,Fumes,Vehicle News | by Pump Girl @ 7:19 pm | 

Crude Oil Prices vs. OPEC

 

Crude Oil futures down 2% today, Friday. Traders doubtful key oil producers will really cut production. Yesterday, OPEC said its members will reduce production by 1.2 million barrels/day to stabilize the recent 25% cut in prices. This is supposed to take effect Nov. 1.

Analysts say only time will tell if OPEC can really implement.

Crude futures for Nov delivery down $1.30 to $57.20/barrel on the Merc. Lowest since June 2005.

Filed under:Fleet Managers,Fuel Price Trends | by Pump Girl @ 10:55 am |