Most Americans have by now felt the impact of the ever-rising gas prices at the station. The national average is $4.305/gallon. With record-high levels in recent days, Americans are eager for relief. Given all the rhetoric surrounding gas prices, when can we expect to realistically see relief at the pump? Media is highlighting the Russian […]
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In early 2020 at the beginning of the COVID-19 pandemic, gasoline prices in the Pittsburgh area dropped as low at $2.13 per gallon. With the war in Ukraine continuing to pressure global oil prices, local gasoline prices have risen all the way to $4.35 per gallon, a more than $2 per gallon increase from the […]
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With known supply chain issues plaguing holiday shoppers, many shopped early to acquire the hot holiday gifts. Mastercard SpendingPulse called 2021 a “resurgent season for retailers” for the holiday season that runs from November 1 to December 24. Retail sales, excluding automotive, increased 8.5% in comparison with 2020. Online sales grew 11% from the same […]
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A common question as more and more fueling stations begin marketing Top Tier gasoline at the pump remains to be: Is the added cost worth it? What actually is top tier gasoline?
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Last December when the Pfizer and Moderna COVID-19 vaccines were issued emergency use authorization by the U.S. Food and Drug Administration (FDA), many of us thought the summer of 2021 was going to be an explosive driving season. That is certainly shaping up to be the case and fuel supply is struggling to keep up […]
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On May 7th, the Colonial Pipeline was paralyzed with a ransomware attack halting 45% of the East Coast fuel deliveries. With the Colonial Pipeline shut down, consumers began panic buying which had a major impact on the readily available supply of fuel.
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The oil complex is trading much higher this morning due to a flurry of bullish headlines: increased chances of a federal stimulus package, weaker dollar, oil strikes in Norway, and the development of Tropical Storm Delta.
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Unless you’re a bear hibernating, everyone knows the Coronavirus is causing panic and particularly panic in the markets. Speaking of bears, we are now possibly entering a bear market.
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In an effort to reduce greenhouse gas emissions from transportation, 12 Northeastern states and Washington D.C., including Pennsylvania, are weighing a regional program that would raise the price of gasoline. The Transportation and Climate Initiative (TCI) defines their program as a “bipartisan group or Northeast and Mid-Atlantic Jurisdictions” looking to “achieve additional benefits through reduced […]
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As the end of this week winds down and people prepare for the holidays next week, light liquidity will most likely be the name of the game in our energy markets. Light liquidity means trading volume is lower than normal which is to be expected during this time of year. Therefore, the bid/ask spreads are […]
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