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.
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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 […]
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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 […]
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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 […]
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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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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 […]
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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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On April 10th, we 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 […]
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On April 3 2019, Ohio Governor Mike DeWine signed a bill which will increase the gasoline and diesel fuel taxes for the state. Starting on July 1st the state tax on diesel fuel will increase by 19 cents to a total of 47 cents per gallon. The 67% increase will bump Ohio to the 6th […]
Read MoreThe thinly traded holiday gasoline market bottomed out on December 24th with a NYMEX low of $1.2352 per gallon. Here we are a few days into the New Year trading at a high of $1.4146. Here’s what happened to push prices higher.
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