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December 28, 2012

Ave Price Same as Last Year, but..

 

This from Orange Co. CA. Ave. price of gas is $3.57 just the same as it was last year, but last year it was a record high.

Pump prices had been falling since October, but seem to have leveled off now. Local wholesale prices have increased by 40 cents since last week, but not passed on to consumers yet.

Gas stations might be able to absorb that increase without ratcheting up prices because there has been a cushion between the wholesale and retail rates. “However, if wholesale prices continue spiking, we could see some rapid price increases at gas stations in coming weeks,” auto club spokesman Jeffrey Spring said in a statement.

Good luck to us all.

Filed under:Fuel Price Trends | by Pump Girl @ 7:26 pm | 

December 27, 2012

Budget Agreement Could Mean Higher Gas Prices

 

Just the news of President Obama cutting short his Hawaiian vacation to head back to DC to deal with fiscal cliff issues, sent benchmark crude up 40 cents. Back down 5 cents on reports of a stalemate.

Failure to reach an agreement before Jan 1 would lead to spending cuts and tax hikes that could send the country back into recession. Otherwise, the economy for 2013 is expected to improve. That would be positive for oil/gas consumption.

A good thing for oil & gas. Not so much for the rest of us.

Filed under:Fuel Price Trends | by Pump Girl @ 7:14 pm | 

December 20, 2012

Gas Price Forward Curve Drops to New Lows

 

According to our most recent analysis of the RBOB Gasoline forward curve, gasoline futures are trading lower than they have at any time in the last 6 months.

Click to Enlarge

It is unknown at this point whether prices have bottomed or will continue to fall in the months of January and February. What is clear is that, after meandering in the late fall, gas prices have finally dropped substantially in accordance with cyclical expectations.

This change in futures markets coincides with a drop in wholesale gasoline around the United States. CNN reports:

“The national average price has dropped every day this month and has fallen 16% since mid-September. It is now at the lowest average price since Dec. 28, 2011, and only 4 cents shy of the December 2011 low of $3.206 a gallon.”

Filed under:Fuel Price Trends,Gas price | by Eyes on Energy @ 5:33 pm |