Today’s Gas & Diesel Price Updates

Bad news. A second day with strong price increases. Gasoline jumped up by 5.55 cents/gallon at the average rack in Selma. Diesel fuel is down by 3.95 cents/gallon. Crude moved up by $1.29/barrel to $57.62.  Prices are:

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Have a great day,

-Larry Hopkins

Today’s Gas & Diesel Price Updates

Google has made a change in the order it presents web results. Mobile-friendly websites will rank higher than sites that aren’t mobile-friendly. Good thing I had Uncle Jake Media, my webmaster, to rewrite the Hopkins Oil website for mobile applications. Mobile is the fastest growing web search.

Gasoline jumped up by 4.21 cents/gallon at  the average rack in Selma. Crude dropp 2 cents/barrel to $56.33. Diesel slipped by 0.97 cents/gallon. I am still searching for a reason that prices bumped up. We do have a number of refineries off line for maintence in  anticipation of the summer driving season. We will see as they come back on line over the next month and prices then drop as a result. Prices are:
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Have a great day,

-Larry Hopkins

Today’s Gas & Diesel Price Updates

The CITI crude oil guru was on Squawk Box this morning. Apparently, he thought that crude oil would be down to $30/barrel at this time. Instead, crude is up 60 cents/barrel to $56.34. He was at  a loss to explain it.
Saudi Arabia is still producing at full capacity, regaining market share. The glut in production in the U.S. will continue until the end of the year, dropping each month, but will still be an excess of demand. One cannot go from so much excess there is no where to store crude and drop down  zero excess. Something is just not adding up. Now if you told me that Congress had passed a bill permiting the export of crude, then I could explain it.  Very odd.

Gasoline slipped by 0.60 cents/gallon at the average rack in Selma. Diesel fuel went down by 1.42 cents/gallon. Prices are:

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Have a great day,

-Larry Hopkins

Today’s Gas & Diesel Price Updates

Crude prices are still moving up $0.73/barrel to $56.63. I think the bet by traders is on the European economy  picking up and demand for oil moving it up because of that. But one has to think that with every dollar that crude goes up, more drilling rigs go back to drilling and more crude oil pumps are being turned back on (they are electric powered). I think it will peak and start back down. Meanwhile, the street has become a believer and stations are starting to raise their prices. Gasoline inched  up by 0.92 cents/gallon at the average rack in  Selma. Diesel fuel is up by 3.65 cents/gallon. Prices are:

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Have a great day,

-Larry Hopkins

Today’s Gas & Diesel Price Updates

Just a passing thought. I wonder about the feasibility of laying a natural gas pipeline from the U.S. to Europe. Our country gains riches and we take them from Russia. Check and mate, Pooh-tan.
Bad news on price. Crude has jumped up by $2.50/barrel to $55.90. I sense it may  have something to do with Europe’s stock market moving up in response to Graghi’s Quantitative Easing (even though the feminist jumped on his podium and confettied him). Gasoline jumped up by 7.18 cents/gallon at the average rack in Selma. Diesel fuel jumped up by 7.48 cents/gallon. Prices are:

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Have a great day,

-Larry Hopkins

Today’s Gas & Diesel Price Updates

I live a small life here. I am struggling to understand currency values and markets. My gut reaction to the rise in value of the Dollar Index, now 99.4 cents, seems good to me, like stock in my country rising. I know it  makes exports harder to sell in the world. Perhaps instead of buying back their own stock, U.S. companies should be buying stock  in cheaper European companies stocks. U.S. stock will drop relative to Europe because of the European Quantitative Easing. But if we change the law about exporting crude, we could keep the world price of crude from rising so quickly but also help our exports, and also helping the U.S. consumer. Win and Win. I did know that China’s yuan is linked to our dollar! That may slow down their exports but they can buy commodities much cheaper, since they must import most of their commodities.

Among the loosers in a stronger dollar, and more exports of crude will be Russia. Another win to my mind. Cheaper oil will weaken Iran, and other Middle Eastern countries. Another win as they are funding their nuclear aspirations along with much of the insurgency in the Arab world. Letting them up from the trade restrictions would be a big mistake. We need to do all we can to weaken Iran. It is hard to get one’s arms around this concept without a world economic computer model. Crude is valued in dollars so that helps Russia and Iran. We need to flood the world marke with crude. To make it even more complicated, our country lost the 30,000 oil patch jobs that we added last year due to the drop in crude prices.

I am still going with low price crude and exports, strong dollar.

Gasoline moved up 2.0 cents/gallon at the average rack in selma. Diesel fuel went up by 1.46 cents/gallon. Crude is up 39 cents to $52.03/barrel. Prices are:

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Have a great day,

-Larry Hopkins

Today’s Gas & Diesel Price Updates

GE sold  GE Capital and their stock went up about 5%, but that represented about $30 billion dollars to the plus side. I guess that is why they call it a large capitalized stock. That moved carried the market up along with it and crude went up to $51.64/barrel. Gasoline popped up by 5.02 cents per gallon at the average rack in Selma. Diesel fuel moved up by 3.66 cents/gallon. Prices are:

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Have a great day,

-Larry Hopkins

Today’s Gas & Diesel Price Updates

Computer problems last night. Here are your prices. Good news! Crude dropped $1.94/barrel to $50.94. Gasoline dropped by 7.48 cents/gallon at the average rack in Selma. Diesel fuel dropped by 7.42 cents/gallon. Prices are:

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Have a great day,

-Larry Hopkins