Today’s Gas & Diesel Price Updates

My prices disappeared on Thursday and Friday but showed up today? Go figure! Crude is down by 37 cents/barrel to $48.87. Gasoline dropped by 7.74 cents/gallon a the average rack in Selma. Diesel fuel is unchanged. Prices are:

Screen Shot 2015-03-29 at 11.30.21 PM

Have a great day,

-Larry Hopkins

Today’s Gas & Diesel Price Updates

The Dollar Index is at 97.25. Crude is unchanged at $47.48/barrel. Gasoline is down by 1.55 cents/gallon at the average rack in Selma. Diesel fuel is down by 2.35 cents/gallon. I still believe prices have to drop, for crude then gasoline/diesel fuel because Saudi Arabia is pumping all they can. With the U.S. surplus coupled with the Saudi Arabian surplus, the total surplus adds up to a world surplus. Prices have to drop. Prices are:

Screen Shot 2015-03-24 at 10.53.16 PM

Have a great day,

-Larry Hopkins

Today’s Gas & Diesel Price Updates

Spring arrived last Friday at 6:45 p.m. I looked around and all of the Bradford Pears were in full bloom. Now, the Japense cherry trees are blossoming. It is  suppose to be 84 degrees  by Thursday and Friday. Maybe we are skipping Spring and going on to Summer. A quick meltdown over the country could lead to big time flooding. The dollar index is  down to 96.96. WTI moved up $0.88/barrel to $47.45. Gasoline is up by 3.60 cents/gallon at the average rack in Selma. Diesel fuel is unchanged. Prices are:

Screen Shot 2015-03-24 at 9.24.45 AM

Have a great day,

-Larry Hopkins

Today’s Gas & Diesel Price Updates

Our country will continue to overproduce until some producers go bankrupt and there is a consolidation of the low cost producers. Unless they can drink the excess crude, we will need to export it. The ships go out with crude and the wealth comes back to our country. We are expeiencing the third boom in our country’s history due to oil. Boom!

Crude is down by 57 cents to $43.98/barrel. I am thinking it should drop below $40. Gasoline is down by 3.96 cents/gallon at the average rack in Selma. Diesel fuel is down by 3.62 cents/gallon. Prices are:

Screen Shot 2015-03-19 at 11.49.50 PM

Have a great day,

-Larry Hopkins

Today’s Gas & Diesel Price Updates

The Fed meeting today has riled all of the markets. They have cut their interst expectation for the year, now 0.6252 %. Beginning in June, the Fed will raise rates 0025%. (I hope that this means that the Fed can now unload the trillions of dollars of bond papers that they purchased under QE1,2 & 3).  With the decisions of interest rates announced today, crude increased $1.85/barrel to $44.55. But nothing has significantly changed. We still have a growing crude surplus.
Gasoline jumped up by 5.65 cents/gallon at the average rack in Selma. Diesel fuel jumped up by 6.70 cents/gallon. Prices are:

Screen Shot 2015-03-18 at 11.49.28 PM

Have a great day,

-Larry Hopkins

Today’s Gas & Diesel Price Updates

It appears that Germany has finally decided to eject Greece from the EU. It is about time. They never should have been allowed in to begin with. Everyone will be better off including Greece who can float their currency giving them cheaper exports to trade.
Crude has dropped another $1.19 to $42.70 or about f$1.00/gallon or over half the value a year ago. And it will go lower. People will say that Exxon, who I have no love for, will make less money and their stock will drop. How do you figure that? If I am a manufacturing company (refinery) and my cost of raw goods has dropped in 1/2, how is that a bad thing? Exxon only obtains about 6% of its crude oil from wells that Exxon owns. They could shutdown those wells and buy cheaper product on the open market and make a killing. When the price goes back up eventually, they would start producing from their own wells again. No, if anything, the major should make more money not less with their cost of goods dropping lower and lower.

Today’s gasoline bumped up a little by 1.48 cents/gallon at the average rack in Selma. If gasoline drops another 10 cents and it should, we will have gasoline at the pump below $2 (at cost and someone will sell it at cost).  Diesel fuel is down by 0.94 cents/gallon. Prices are:

Screen Shot 2015-03-17 at 11.06.11 PM

Have a great day,

-Larry Hopkins