Commodities Markets Crashing?

Just a heads up: All the commodity markets are crashing. Silver is down 4%, Copper down 3%. Crude is down almost $4.00. I am not sure why. I am hoping the bubble burst on news that unemployment claims jumped up 43K this week.

The dollar is strengthening against the Euro based on some remarks by the European Market Chairman. It is the turn of the French to chair that position. I believe he was indicating increased interest rates. The Dow is down about 70 points at this time.

Gasoline & Diesel Fuel Price Changes

Hello,

 

It looks like rain all day today and 20 degrees cooler than yesterday. Gasoline is up today by 1.9 cents at the average rack in Selma. But, and this rarely happens, diesel fuel is down today by 6.2 cents. June crude futures are down at this time by over $1.50. Prices today are:

AV.RACK

FEDERAL

STATE

SPILL

COST

   PRODUCT

  PRICE

  TAX

TAX

TAX

With Tax

UNLEADED

3.2841

0.1840

0.3275

0.0019

3.7975

PLUS

3.3434

0.1840

0.3275

0.0019

3.8568

PREMIUM

3.4799

0.1840

0.3275

0.0019

3.9933

ULS

3.2742

0.2440

0.3275

0.0019

3.8476

ULS RED

3.2784

0.0000

0.0025

0.0019

3.2828

Best regards,

 

-Larry Hopkins

Gasoline & Diesel Fuel Price Changes

Good morning,

 

We have a nice drop in prices today. Remember, if your present supplier does not drop his price today, you might need to rethink who that supplier is. Gasoline is down 6.0 cents at the average rack in Selma. Diesel fuel is down 2.5 cents. I have attached the OPIS (oil price information service) as proof of my price benchmark. Prices are:

AV.RACK

FEDERAL

STATE

SPILL

COST

   PRODUCT

  PRICE

  TAX

TAX

TAX

With Tax

UNLEADED

3.2651

0.1840

0.3275

0.0019

3.7785

PLUS

3.3271

0.1840

0.3275

0.0019

3.8405

PREMIUM

3.4652

0.1840

0.3275

0.0019

3.9786

ULS

3.3358

0.2440

0.3275

0.0019

3.9092

ULS RED

3.3420

0.0000

0.0025

0.0019

3.3464

 Have a good work day,

 

-Larry Hopkins

 

Gasoline & Diesel Fuel Price Changes

Good Monday morning,

 

We have another exciting week ahead of us. Bin Laden’s death has the stock market up and crude oil down, at least for the short term. Gasoline prices jumped up Friday by 5.1 cents at the average rack in Selma. Diesel fuel is up 3.6 cents. For some reason, as Sidney pointed out, prices are always up on Friday. Prices today are:

 

AV.RACK

FEDERAL

STATE

SPILL

COST

   PRODUCT

  PRICE

  TAX

TAX

TAX

With Tax

UNLEADED

3.3253

0.1840

0.3275

0.0019

3.8387

PLUS

3.3876

0.1840

0.3275

0.0019

3.9010

PREMIUM

3.5288

0.1840

0.3275

0.0019

4.0422

ULS

3.3604

0.2440

0.3275

0.0019

3.9338

ULS RED

3.3658

0.0000

0.0025

0.0019

3.3702

Best regards,

-Larry Hopkins

Gasoline & Diesel Fuel Price Changes

Good Friday morning,

 

Gasoline moved up slightly by 1/10th of a cent at the average rack in Selma. Diesel fuel move up 3/10ths of a cent. Prices are:

AV.RACK

FEDERAL

STATE

SPILL

COST

   PRODUCT

  PRICE

  TAX

TAX

TAX

With Tax

UNLEADED

3.2745

0.1840

0.3275

0.0019

3.7879

PLUS

3.3397

0.1840

0.3275

0.0019

3.8531

PREMIUM

3.4835

0.1840

0.3275

0.0019

3.9969

ULS

3.3242

0.2440

0.3275

0.0019

3.8976

ULS RED

3.3285

0.0000

0.0025

0.0019

3.3329

 

Best regards,

 

-Larry Hopkins

Gasoline & Diesel Fuel Price Changes

Good morning,

 

Prices moved higher today. Gasoline is up by 6.3 cents at the average rack in Selma. Diesel fuel is up by 2.6 cents. Prices today are:

AV.RACK

FEDERAL

STATE

SPILL

COST

   PRODUCT

  PRICE

  TAX

TAX

TAX

With Tax

UNLEADED

3.2604

0.1840

0.3275

0.0019

3.7738

PLUS

3.3276

0.1840

0.3275

0.0019

3.8410

PREMIUM

3.4732

0.1840

0.3275

0.0019

3.9866

ULS

3.3212

0.2440

0.3275

0.0019

3.8946

ULS RED

3.3260

0.0000

0.0025

0.0019

3.3304

 

Best regards,

 

-Larry Hopkins

Gasoline & Diesel Fuel Price Changes

Good morning,

 

It seems the Obama’s are a little miffed that they were not invited to the Royal Wedding. The way they have been acting towards the Brits, they probably wanted to be invited so they could snub them. Apparently, our President let his personal feelings about the British in Kenya come between him and doing his job. He is not President of Kenya. When the Queen called me last week and asked me to come, I told her I could not because I have the wedding of a favorite niece to go to. Family is Family. She said she understood. But I did ask if I could stop by on my next trip to Stockholm to collect my Nobel prize. She said that would do just fine. I asked her how she liked the iTunes, recordings of his speeches, Mr. Obama had given her,  she said she appreciated the fact that it was so very small, it did not stop up the water closet when she flushed it away. And so it goes…………

 

Gasoline is higher at the average rack in Selma by 2.6 cents. Diesel fuel is higher by 2.9 cents. Prices are:

 

AV.RACK

FEDERAL

STATE

SPILL

COST

   PRODUCT

  PRICE

  TAX

TAX

TAX

With Tax

UNLEADED

3.1968

0.1840

0.3275

0.0019

3.7102

PLUS

3.2665

0.1840

0.3275

0.0019

3.7799

PREMIUM

3.4143

0.1840

0.3275

0.0019

3.9277

ULS

3.2953

0.2440

0.3275

0.0019

3.8687

ULS RED

3.3001

0.0000

0.0025

0.0019

3.3045

 

Best regards,

-Larry Hopkins

Gasoline & Diesel Fuel Price Changes

Good morning,

 

There is some hope in the business community of a lowering of the corporate tax rate from 35% to 25%. Apparently, the average corporation only pays 13% because of tax ‘loopholes’. The idea is to lower taxes as Regan did but eliminate the loopholes. But accompanying this, would be a requirement for corporations to pay tax on profits anywhere in the world but allow a deduction for taxes paid in foreign countries. The idea is to bring home all of those trillions of dollars held offshore in places such as Ireland and Switzerland. There was a feature on this topic on 60 Minutes a while back.

 

Ford reported its highest profit in a decade. I wish I had bought it when it was trading for $1.

 

June crude futures are trading at $112.36 ($2.67/gallon), up slightly.

The Marathon Garysville, Louisiana refinery that feeds the Colonial pipeline that services our area, recorded an astonishing 508,000 barrels of output per day or 21,336,000 gallons per day!

 

Gasoline prices today are up by 4/10ths at the average rack in Selma. Diesel prices are down by 1.6 cents. Prices are:

AV.RACK

FEDERAL

STATE

SPILL

COST

   PRODUCT

  PRICE

  TAX

TAX

TAX

With Tax

UNLEADED

3.1706

0.1840

0.3275

0.0019

3.6840

PLUS

3.2395

0.1840

0.3275

0.0019

3.7529

PREMIUM

3.3873

0.1840

0.3275

0.0019

3.9007

ULS

3.2664

0.2440

0.3275

0.0019

3.8398

ULS RED

3.2720

0.0000

0.0025

0.0019

3.2764

 

Best regards,

 

-Larry Hopkins

Gasoline & Diesel Fuel Price Changes

Good Monday morning,

 

Gasoline is up 2.9 cents today. Diesel fuel is down 1.1 cents at the average rack in Selma. Prices are:

AV.RACK

FEDERAL

STATE

SPILL

COST

   PRODUCT

  PRICE

  TAX

TAX

TAX

With Tax

UNLEADED

3.1668

0.1840

0.3275

0.0019

3.6802

PLUS

3.2343

0.1840

0.3275

0.0019

3.7477

PREMIUM

3.3858

0.1840

0.3275

0.0019

3.8992

ULS

3.2821

0.2440

0.3275

0.0019

3.8555

ULS RED

3.2867

0.0000

0.0025

0.0019

3.2911

Trees don’t grow to the sky. These prices cannot go up forever. I think a top will be reached when all the storage tanks are filled around the world and all the ships being used for storage to buy product which is relatively cheaper, but sooner or later, the companies that actually utilize the crude such as refiners will stop buying then all of the commodity traders will be stuck in untenable positions and have to sell in a panic and the market bubble will burst as all bubbles do. I have little sympathy for these traders. Burst bubble! Burst!

Have a good week,

 

-Larry Hopkins

 

Gasoline & Diesel Fuel Price Changes

Good morning,

 

Prices dropped today. Gasoline is down by 3.6 cents at the average rack in Selma. Diesel fuel is down by 4.1 cents. Prices are:

 

AV.RACK

FEDERAL

STATE

SPILL

COST

   PRODUCT

  PRICE

  TAX

TAX

TAX

With Tax

UNLEADED

3.1357

0.1840

0.3275

0.0019

3.6491

PLUS

3.2068

0.1840

0.3275

0.0019

3.7202

PREMIUM

3.3600

0.1840

0.3275

0.0019

3.8734

ULS

3.2641

0.2440

0.3275

0.0019

3.8375

ULS RED

3.2688

0.0000

0.0025

0.0019

3.2732

 

Enjoy your day,

 

-Larry Hopkins