xcel
10-18-2009, 11:02 AM
http://www.cleanmpg.com/photos/data/2/AmericanFlag.jpg US Dollar falling to new lows for the year accentuate the breakout. (cleanmpg.com/forums/showthread.php?p=237700)
http://www.cleanmpg.com/photos/data/501/Gasoline_at_2_499_nationwide.jpgWayne Gerdes - CleanMPG (cleanmpg.com) - Oct. 18, 2009
US average at $2.49 per gallon will be a distant memory by Monday.
The Energy Department on Friday reported a large drawdown in gasoline supplies causing an Energy price surge even though the country continues to sit on a large oversupply of petroleum.
Additionally, the DJIA rising above 10,000 along with a 14-month low in the US Dollar both contributed to the sharp run up and breakout of what was a very stable trading range from $65 to $75 range experienced throughout the summer months.
Crude
Oil for November delivery rose $0.85 to settle at $78.53 a barrel on Friday, the highest price since last October when crude oil pricing was in free fall. For the week, crude prices climbed $6.24, up 6.8%.
Another contributor to the breakout is the large number of Oil and Gas Rigs and Refiners shutting down facilities at a rate usually not seen other then when a Gulf of Mexico hurricane is threatening the US’ energy belt.
Gasoline
The US average price for a gallon of regular unleaded increased for the first time since mid-august settling up $0.02 to $2.49 per gallon.
NYMEX futures were up over a nickel on Thursday and Friday and prices at the pump are sure to follow.
Gulf Coasters are still experiencing the lowest price of any region despite a three cent rise at $2.32 per gallon.
Prices on the West Coast fell a nickel to $2.90 per gallon while Californian’s continue to pay the highest price in the nation at $3.02 per gallon, also down a nickel.
With the sharp rise in Crude on Thursday and Friday, expect gasoline prices in all regions to spike hardily over the coming days reversing the small declines we have experienced over the previous few weeks.
Diesel
For the first time in six weeks, the national average price for a gallon of diesel rose, up two cents to $2.60 per gallon.
Like gasoline, the average price on the Gulf Coast remained the lowest of any region, at $2.53 per gallon.
On the West Coast, the average moved up a penny to $2.73 per gallon while Californian’s are paying the highest average prices at $2.79 per gallon.
Home Heating Oil
The average US residential heating oil price gained 3.0 cents last week to reach $2.53 per gallon.
Wholesale heating oil prices rose almost 8 cents to reach $1.94 per gallon, 41 cents per gallon lower than this time last year.
http://www.cleanmpg.com/photos/data/501/Gasoline_at_2_499_nationwide.jpgWayne Gerdes - CleanMPG (cleanmpg.com) - Oct. 18, 2009
US average at $2.49 per gallon will be a distant memory by Monday.
The Energy Department on Friday reported a large drawdown in gasoline supplies causing an Energy price surge even though the country continues to sit on a large oversupply of petroleum.
Additionally, the DJIA rising above 10,000 along with a 14-month low in the US Dollar both contributed to the sharp run up and breakout of what was a very stable trading range from $65 to $75 range experienced throughout the summer months.
Crude
Oil for November delivery rose $0.85 to settle at $78.53 a barrel on Friday, the highest price since last October when crude oil pricing was in free fall. For the week, crude prices climbed $6.24, up 6.8%.
Another contributor to the breakout is the large number of Oil and Gas Rigs and Refiners shutting down facilities at a rate usually not seen other then when a Gulf of Mexico hurricane is threatening the US’ energy belt.
Gasoline
The US average price for a gallon of regular unleaded increased for the first time since mid-august settling up $0.02 to $2.49 per gallon.
NYMEX futures were up over a nickel on Thursday and Friday and prices at the pump are sure to follow.
Gulf Coasters are still experiencing the lowest price of any region despite a three cent rise at $2.32 per gallon.
Prices on the West Coast fell a nickel to $2.90 per gallon while Californian’s continue to pay the highest price in the nation at $3.02 per gallon, also down a nickel.
With the sharp rise in Crude on Thursday and Friday, expect gasoline prices in all regions to spike hardily over the coming days reversing the small declines we have experienced over the previous few weeks.
Diesel
For the first time in six weeks, the national average price for a gallon of diesel rose, up two cents to $2.60 per gallon.
Like gasoline, the average price on the Gulf Coast remained the lowest of any region, at $2.53 per gallon.
On the West Coast, the average moved up a penny to $2.73 per gallon while Californian’s are paying the highest average prices at $2.79 per gallon.
Home Heating Oil
The average US residential heating oil price gained 3.0 cents last week to reach $2.53 per gallon.
Wholesale heating oil prices rose almost 8 cents to reach $1.94 per gallon, 41 cents per gallon lower than this time last year.