As fireworks go sky-high this weekend so do fuel prices

Americans are seeing the highest increase in gasoline prices since 2014. The price of gas has increased almost a dollar since last year. The national average price per gallon of regular gas is $3.12 a gallon as of last Thursday. Analysts say it is expected that in July and August hundreds of thousands of barrels of more fuel will be burned compared to prior levels, sending the national average price of gasoline upward towards $3.20 or higher.fuel prices

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Underestimating Demand in the Markets

As COVID-19 vaccine distribution continues to roll out, global markets underestimated the demand for oil as the economy reopens for business. Goldman Sachs is expecting Brent crude to hit $80 per barrel and forecasters remain optimistic that prices will stay above $70 per barrel by mid-2021. Read More

E15 Clarity

Despite over 98% of all gasoline sold in the United States containing ethanol, over 80% of consumers do not know how much ethanol is present in their gasoline, or what the additional ethanol gasoline means. In this brief overview, we will uncover who can use it, where to find it, and what are some of the benefits of a higher ethanol content. Read More

Cleaning Up Gasoline Emissions

Clean, or lower emissions is certainly the direction all auto manufacturers are headed, as we run deeper into climate and environmental discussions.   Improving emission of a vehicle is by introducing a cleaner, hotter burning, more oxygen rich fuel to increase the efficiency of the combustion process.   Vehicular emission is why we have 10% ethanol in most of the gasoline sold at retail pumps each  of us use on a daily or weekly basis.   This blog will highlight a basic understanding on what ethanol means for our vehicles.  Read More

Life After Covid – A Return to a Sense of Normalcy

After a year of uncertainty and instability in the market created by COVID-19 and a global shutdown, we are starting to see signs of a return to normalcy. Over the past 8 weeks there has been a gradual decline in COVID-19 cases nationally. According to Bloomberg business, “retail gasoline sales rose last week to just 1% below year-ago levels, just before regional lockdowns brought fuel consumption to a crawl.”

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Refined Products Rally

The oil patch is rallying today being led by refined products. This is due to the fact that Hurricane Sally has left a trail of “catastrophic” rainfall in Alabama earlier this week and is now barreling through the Carolinas and is hindering supply at petroleum terminals.

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PES Aftermath

Since making recent headlines, many people are familiar with the Philadelphia Energy Solution (PES) oil refinery explosion that occurred on Friday, June 21st at approximately 4:00 a.m. in South Philadelphia. The blaze injured five workers that were treated for minor injuries. The explosion caused a 3.5% – 3.9% jump in RBOB prices on the NYMEX due to concern that the outage may constrain supply.

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Fueling Price Pressure?

On May 7th we reported the beginning of the end of the spring gasoline price rally. After six weeks of gains on the NYMEX, and summer grade gas specification changes piling on more cost, retailers were unable to pass through daily wholesale price increases.

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Are Happy Days Here Again?

On April 10thwe had warned the spring price rally along with summer gas specification changes were upon us and soon retail gasoline prices would breach the $3.00 mark. Looking at GasBuddy, retail gas prices today across Pennsylvania $3.00 plus prices are now the norm. Pittsburgh with RFG gasoline leads the state with an average $3.15 per gallon 87 grade pump price.

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