2014 Gasoline Price Forecast

[MagickMan]

Meanwhile already closing in on $3.50 heading towards $4 and it's only January.

Looks like will easily pass $5 once again and close in on $6 this spring.

Don't see any of the stations on the low side on the Oil Thug price sites.

That's absurd, you know that, right?

 

[OCGuy]

2008? The price of gas has gone down since then.

Actually yep...according to AAA, 2008 had the highest recorded average price. I haven't seen a prediction be more wrong. Haha.

http://www.fuelgaugereport.aaa.com/

 

[ralfy]

About exports,

"Fears of global oil crisis aired at Transatlantic Energy Security Dialogue."

http://www.jeremyleggett.net/2014/01/9876/

That is, unconventional oil has high decline rates. Also, conventional production may pull down total oil production.

 

[dmcowen674]

1-15-2014

http://seekingalpha.com/article/194...s-sink-to-lowest-level-on-record?source=yahoo

Oil Prices Rebound Sharply As U.S. Net Petroleum Imports Sink To Lowest Level On Record



Crude oil imports plummeted to 6.83 million barrels per day last week, the lowest level since January 2000, while total petroleum net imports sunk to 4.63 million barrels per day, the lowest point on record going back to 1991.


In turn, we've seen a sharp rise in U.S. Gulf Coast crude oil prices. Louisiana Light Sweet is now essentially trading at par with Brent, a sharp reversal from the discount of nearly $15 seen as recently as November.


Midwest oil producers have every incentive to ship barrels to the Gulf Coast to sell for premium prices.

 

[dmcowen674]

Same old bullshit

The Oil Thugs proclaimed for decades that we are paying so much because we had to import our oil.

Now we don't have to import it and we have to pay more because we don't import it.

Thugs is Thugs

 

[brianmanahan]

What a load of s**t.

this is a dmcowen thread, so i would expect no less.

seriously dude, you are a broken record. do something besides complain for one freaking post. please.

 

[brianmanahan]

The Oil Thugs proclaimed for decades that we are paying so much because we had to import our oil.

are you aware how much they pay in your beloved non-US countries?

based on these numbers, the US is in the 4th decile: http://www.bloomberg.com/visual-data/gas-prices/

 

[brianmanahan]

Meanwhile already closing in on $3.50 heading towards $4 and it's only January.

Looks like will easily pass $5 once again and close in on $6 this spring.

you are either a master troll, or braindead

or both :hmm:

 

[Londo_Jowo]

Several stations close to where I live are below $2.90/gal, Chevron is the lowest with $2.84/gal.

 

[Engineer]

Nothing new here...between $3.07 and $3.19. It will drop a few more cents and take a $0.30 jump. It has been in this pattern for months now.

 

[dmcowen674]

Nothing new here...between $3.07 and $3.19. It will drop a few more cents and take a $0.30 jump. It has been in this pattern for months now.

Similar pattern here but range has been $3.19 to $3.59

Currently $3.29

No valid reasons ever given for the 30 cent jumps overnight.

No reasons given when slowly goes down one or two cents a day either.

 

[werepossum]

It is bizarrely inconsistent. I filled up the Tracker Tuesday night at $3.099. Wednesday night I filled up the truck at $3.019, same station. Sometimes this station is $.30 higher than other stations on the same road, a day or two later it might be $.30 lower.

 

[rudder]

For once I am putting in some good works for walmart. They build a new store in my town... which I hate because traffic sucks now... but when it opened in October gas was like $3.39/gallon. They have one of those Murphy gas stations that opened in late december and immediately a price war erupted between walmart and kroger. Gas is now $2.81/gallon.

 

[dmcowen674]

More incompetence being rewarded.

1-21-2014

http://www.wthr.com/story/24506276/2014/01/21/propane-in-short-supply-in-some-states

Propane in short supply in some states



Indianapolis isn't the only city shivering in the cold this week. Cities across the northeast and Midwest are preparing for more snow. What they may not be prepared for is staying warm.



In Wisconsin, propane companies are only filling customers' tanks halfway, and limiting sales. High demand and low supply is driving up prices - as much as 46 percent higher than last winter.


Some families have seen their bills double:

"It's well over two dollars a gallon and it just keeps rising," said Ryan Gunderson, vice president, Superior Fuel Co.

"We don't know when we're getting it. We don't know if we're getting it, and all the propane companies are in the same boat," said Scott Zura, The Gas House.

 

[Londo_Jowo]

More incompetence being rewarded.

More like more you have no clue as usual.

As the northeastern U.S. prepares for another major snowstorm along with extreme cold weather, residents and businesses are suffering from a shortage of propane.
Supplies of propane in the Northeast and Midwest regions took a hit during the recent "polar vortex"-induced cold spell, and deliveries to replenish the stocks have been hampered by poor weather.
That’s caused prices to spike for the fuel that nearly 6 million U.S. households rely on for home heating. Nationwide, propane prices averaged $2.86 per gallon last week, up 17% from the same period a year earlier, according to the U.S. Energy Information Administration.
Prices are even higher in some regions. Residential customers in New York state, for example, paid an average of $3.28 a gallon for propane last week, up from under $3 a gallon in December and 20% higher than at this time last year.
Several governors in the Midwest have already declared states of emergency, suspending rules limiting propane deliveries. Ohio Gov. John Kasich on Jan. 18 issued an emergency proclamation temporarily waiving rules that limited delivery hours for propane and heating oil. Kasich also activated the state’s national guard to assist residents affected by the shortage.
“This will help get propane companies resupplied so Ohioans who use propane to heat their homes can stay warm, while also doing it safely,” the governor said in a statement. “We’re also working closely with county officials to look out for people whose supplies might be getting low. I urge folks to look out for one another right now.”
Ohio is the 17th state to declare an emergency, according to a report by NBC News.

The New England states, which have less storage capacity, have had trouble receiving propane deliveries by rail because of bad weather, as well. And propane deliveries will likely become more difficult as the latest winter storm racing up the Eastern seaboard could bring a foot of snow to major cities, including Philadelphia, New York and Boston.
Prices will likely climb even higher as another patch of extreme cold weather is expected. Temperatures will be 10 to 25 degrees below average across much of the country starting on Tuesday night. Temperatures below freezing could extend as far south as Memphis, Tenn., by Thursday.

The propane shortage has its roots in the Midwest’s farm belt, where record high corn crops this fall led to higher propane use. Farmers use propane to dry crops and tapped more supplies than usual thanks to the huge harvest and above-average rainfall.
At the same time, U.S. exports of propane were booming, leading propane supplies to fall to the lowest level since 1996, according to the Energy Information Administration. According to the Census Bureau, 5% of around 115 million households, or nearly 6 million, use propane as home heating fuel.

 

[dmcowen674]

More bullshit.

It won't translate to lower prices. I'm sure they will make up a new excuse to raise prices.

1-21-2014

http://www.bloomberg.com/news/2014-...nth-low-before-lemont-restart.html?cmpid=yhoo

Chicago Diesel Slumps to 21-Month Low Before Lemont Restart

Citgo’s Lemont refinery produces several grades of gasoline, diesel, jet fuel and hydrocarbon solvents, according to the company’s website.


Chicago diesel slid to a 21-month low relative to futures as Citgo Petroleum Corp.’s Lemont, Illinois, refinery prepared to start a unit and add to production in the U.S. Midwest.


The state of Illinois said Citgo submitted a restart plan for a vacuum distillation unit at the 170,500-barrel-a-day Lemont refinery. The plant plans to begin pre-start procedures on Jan. 29, said Scott Mulford, a spokesman for the Illinois attorney general’s office.

Restart of the unit, which has been shut since an Oct. 23 fire, may add to diesel production in the U.S. Midwest, known as PADD 2.

Ultra low sulfur diesel in the Midcontinent, or Group 3 region, the area north of Tulsa, Oklahoma, to Minnesota and North Dakota, dropped 1.5 cents to 15.5 cents a gallon under Nymex futures, the lowest level in data going back to 2006.


The 3-2-1 crack spread in the Group 3 area, a rough measure of refining margins for gasoline and diesel based on West Teas Intermediate oil in Cushing, Oklahoma, dropped $1.04 to $15.18 a barrel. The same spread in Chicago also declined $1.04, to $13.78 a barrel, according to data compiled by Bloomberg.

 

[dmcowen674]

Right on que, here come the excuses for raises prices because it's cold and snowing.

It's called Winter, happens every year.

1-21-2014

http://www.bloomberg.com/news/2014-...-close-energy-prices-surge-amid-u-s-snow.html

Federal Offices Close, Energy Prices Surge Amid U.S. Snow



Federal offices closed in Washington, New York’s mayor urged people to stay off the streets, thousands of flights were grounded and energy prices surged as a winter storm intensified off the East Coast.



New York City will get 8 to 12 inches (20 to 30 centimeters) of snow, with the heaviest coming down as workers head home at nightfall, said Lauren Nash, a National Weather Service meteorologist in Upton, New York.



Arctic air is returning to the U.S. after frigid weather that set records across the Midwest earlier this month. Readings dropped to single-digits far into the South.


Bitter cold coming with the snow pushed natural gas futures up 2.4 percent today to settle at $4.431 per million British thermal units on the New York Mercantile Exchange, the highest close since Dec. 26. Almost half of U.S. households use gas for heating.



Spot wholesale electricity jumped to two-week highs across eastern U.S. grids and spot gas hit records at hubs serving New York and Boston.

 

[Londo_Jowo]

Maybe there should be more gasoline pipelines instead of using trucks to transport gasoline to the distributors or gas stations.

 

[dmcowen674]

People are finally questioning all the fires and explosions at these facilities if they are purposely being sabotaged to raise prices.

No shit, how long have I been saying that?

1-22-2014

http://news.yahoo.com/fire-rages-mississippi-biodiesel-plant-explosion-190534324--sector.html

Fire rages at Mississippi biodiesel plant after explosion



A fire raged at a biodiesel complex after an explosion that was felt miles away in northern Mississippi on Wednesday, the Highway Patrol said, but to its knowledge, all workers at the plant had been accounted for.


The fire at the plant, some 3-4 miles north of New Albany, the Union County seat, broke out at about 5:30 a.m. CST


He said the explosion likely took place at fuel storage tanks within the facility.


A telephone number listed for the plant appeared to be disconnected and Reuters was unable to immediately locate plant officials.


52 Comments




Non-Affiliated 6 minutes ago

if lack of maintenance is the cause then prison should be on the table.





Scott J 9 minutes ago


Here's another perfect excuse for Big Oil & their Wall Street speculator cronies to raise the price of oil/gas at the pump yet again. At least no one was injured/killed that the authorities know of in this latest in a series of explosions at various plants across the nation. One has to wonder if the owners of these plants are following proper safety protocols/regulations though.

Paul 8 minutes ago

Yep cutting regulations is working well people.

Robbie 6 minutes ago

All these random plant explosions, makes you wonder if it is sabotage!

Ricky H 6 minutes ago

Another excuse for big oil to raise fuel prices again.

 

[Meghan54]

So, a fairly new biodiesel plant that produces just over 4M gallons of biodiesel a year is going to cause "Big Oil" to raise gasoline prices?

And I'm sure lack of maintenance caused the explosion, esp. since the plant was so old...I mean, it came on line way back in 2006.

Oh, wait.......

I doubt this plant is going to have much of an effect running or not. Miniscule output, a non-oil based/sourced production. If anything, it may drive soy bean prices down temporarily.

In other news, shit happens.


Gas prices near us are hovering around $2.90 or so and have been within .10 of that price for a few months.

But historically, gas prices---U.S. average---are about $1.40 higher than they were 5 years ago and are pretty much stable over the last 2 years, actually the national avg. price is about .10 lower today than the same time 2 years ago.

 

[fskimospy]

Similar pattern here but range has been $3.19 to $3.59

Currently $3.29

No valid reasons ever given for the 30 cent jumps overnight.

No reasons given when slowly goes down one or two cents a day either.

I'm pretty sure you have been saying 'DRIVE FOR FIVE' for a number of years now. Just so you know, inflation adjusted gas prices are currently back down to levels seen in 2010 and/or ~2006.

 

[Londo_Jowo]

Just filled up on my way back from physical therapy at the Chevron for $2.84/gal.

http://www.houstongasprices.com/Chevron_Gas_Stations/Richmond/107517/index.aspx

 

[CPA]

Similar pattern here but range has been $3.19 to $3.59

Currently $3.29

No valid reasons ever given for the 30 cent jumps overnight.

No reasons given when slowly goes down one or two cents a day either.

Do you ask for reasons for all products price changes?

Didn't think so.

 

[CPA]

Oh look, Obama EPA Thugs have been colluding to with environmentalists on ways to keep oil prices high.

http://www.foxnews.com/politics/201...en-epa-environmental-groups-on-keystone-coal/

Dave, where's your post about this thuggish behavior?

 

[Engineer]

$2.99 in Lexington. Last time it did this, went to $3.59 within a few weeks. Lets see how long it takes this one to jump.