Unleaded Gasoline trading at 1.89 moments before market close

[puerco-bellies]

All the energy sectors except Natural Gas have taken out record highs
Crude at 67bbl
www.alaron.com

Puerco-bellies recommends buying the December or March Natural Gas contract

Edited to include market req.

[Renew Deal]

1. $1.89 a gallon

Or is that Euros?

[Kelvin Mace]

2. or whosesale

[Occulus]

10. I would HOPE so! n/t

[HeeBGBz]

3. Gas went up $.17 this week here so far

Sounds like its going up further.

[bemildred]

4. Crude Oil, Gasoline Jump to Records Amid Rising Fuel Demand

Aug. 10 (Bloomberg) -- Crude-oil and gasoline futures surged to all-time highs as refinery shutdowns and rising demand cut motor fuel supplies for the sixth straight week.

Gasoline consumption was up 1.4 percent for the four weeks ended Aug. 5 compared with the same period a year earlier, the U.S. Energy Department said today in a weekly report. Motor-fuel supplies fell 2.1 million barrels to 203.1 million barrels last week. The rate at which refineries operated declined.

``At the retail level we haven't seen a slackening in demand,'' said Jeff Lenard, a spokesman for the National Association of Convenience Stores, a trade organization based in Alexandra, Virginia. About three-fourths of gasoline and diesel sold in the U.S. is purchased at convenience stores, he said.

Crude oil for September delivery rose $1.23, or 2 percent, to $64.30 a barrel at 1:22 p.m. on the New York Mercantile Exchange. Prices are 44 percent higher than a year ago. Futures touched $64.43 a barrel, the highest since the Nymex contract began in 1983. \

http://quote.bloomberg.com/apps/news?pid=10000103&sid=aTlXggJvhQDU&refer=news_index

[puerco-bellies]

5. The December Crude contracts are trading @ 67.+

We will see $70.00+ crude before the end of the year.

[trogdor]

6. I disagree.

Remember Bunker Hunt and the silver spike of around 1980? If you bought silver at $50/oz., you got boned pretty good. Oil has been run up by speculators, and is probably overpriced. Anybody who buys oil futures now is setting himself up for a financial disaster.

[puerco-bellies]

8. Bunker Hunt?

I am a Senior Commodity Specialist with one of the world's largest privately held FCM. China's consumption estimate have been adjusted upward, production is flat (flat out in reality), and demand is still increasing in the U.S., Europe, and India. No one knows the future, but in my professional opinion it would be foolish to compare an attempt to manipulate the precious metals market 25+ years ago with the reality of today's energy situation.

[WePurrsevere]

7. It's going to be a very long cold winter up here in the North Country....

So many people don't realize that so many who will truly need the help won't qualify and with government cut backs and increased need one has to wonder if there will be nearly enough help to go around for those that actually do.

We don't need to drill for more oil that will only run out fairly soon anyway. We need to make any or all of the already existing alternative energy and fuel sources more affordable and accessible to everyone.

[Occulus]

9. Where the HELL are they getting $1.89 from?!??!

We pay $2.30+. In SW Michigan.

[hatrack]

11. Those are wholesale prices, I believe - commodities trade reports

Please, if I'm misreading this, anybody should feel free to jump in and correct me.

[puerco-bellies]

12. You are right the prices discussed are on the NY Mercantile Exchange

These prices are on the highest tier on the unleaded gasoline supply chain. Here is So-Cal we are paying from 2.55 to 2.89 for 87 octane unleaded.

[htuttle]

13. Yes, that's wholesale

Add on your state's gas tax and the gas distributor's markups, and you're looking at about $2.50/gal in most places (and higher in CA, etc...).

[ProfessorGAC]

14. It'd Be About Market Plus 38 - 40%

The retail margin, is about 15% after shipping. Then, road and gas taxes add about another 1/6th to the retail prices. So, in this case, figure about 40%. These prices reflect about $2.66 per gallon.
The Professor