Are Happy Days Here Again?

By: George Butler / May 7, 2019

Honda-Fuel-Savings-TipOn 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.

We also reported on April 10th local distributors were having a difficult time making money since wholesale price was moving higher faster than they were able to raise street prices. Now, the reverse is happening. We are in the demand season and wholesale prices have started declining with a little help from the administrations announcement of additional trade tariffs on China. Even so, after weeks of trending higher the market appeared overbought and ripe for correction. Between yesterday and today, the gasoline market is off 9 cents providing some much needed margin for retailers.

If the trend continues retail prices will hold and wholesale will decline setting retail up for big margins at the pump.


Categories: gasoline, summer gas prices


George Butler

Written by

George Butler


Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED "AS IS," WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.


Comments

Subscribe to our blog

Price Feed

Stay up-to-date on current fuel prices and market trends with our NYMEX price feed (15 minute delay to the live market).

© 2018 Market data provided and hosted by Barchart Market Data Solutions. Fundamental company data provided by Morningstar and Zacks Investment Research. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer.

Categories

Contact Us