Gas & Oil News Daily

Here comes the next wave of price spikes at the Pump! The National Average Price for Regular Unleaded Gasoline is starting to reflect the affects of a restricted supply. Regular Unleaded increased 2.8 Cents over yesterday, currently selling for $2.843 a gallon.

Light Crude Oil is still stuck in the mid 60's a barrel, selling at a high of $66.65 and settling at $66.24 dropping 55 Cents a barrel since yesterday.

Davitte’ Lanier
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Gas & Oil News Daily

The National Average Price for Regular Unleaded Gasoline is starting to inch up. The AAA Motor Club reported a Four Tenth's of a Cent increase in The National Average for Unleaded Gasoline selling today at $2.815.

Light Crude Oil is still dancing around the mid 60's a barrel, selling at a high of $67.20 and settling at $66.79 up 44 Cents a barrel over yesterday.

Davitte’ Lanier
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Gas & Oil News Daily

The National Average Price for Regular Unleaded Gasoline is 2 tenths of a cent down from yesterday, reflecting higher than expected gasoline inventories in the US. The National Average for Regular Unleaded Gasoline is $2.811 a gallon.

Light Crude Oil is still dancing around the mid 60's a barrel, selling at a high of $67.40 and settling at $66.35 up a Dollar Twenty Eight a barrel over yesterday.

Although Hurricane Rita spared the Gulf Coast Petroleum Industry a direct hit on their land based interests, some major damage to drilling rigs has been reported.

Davitte’ Lanier
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Gas & Oil News Daily

Rita Has Passed It is Time To Rebuild....
> Rita's legacy haunts oil market
> Rita claims 'lower than Katrina
> Many Still Can't Get Home After Rita

Crude oil is back at what I feel is an equilibrium price. Resent history has exposed a price pattern. Crude Oil has been hovering at $65 a barrel for weeks! Total Global Demand is ever increasing, but doesn't have erratic daily swings, it's more of a given. On the supply side, there are some tangible and intangible elements that affect the price. The outcome of natural and human induced events whether real or imagined trigger price movements. When there was good news for oil the price dropped $2, on the bad news it jumped $2, then it gravitated back to $65 a barrel. Now with the "Bottle Neck" I spoke of last week now being realized by OPEC, the Cartel has decided to reduce production! Holding fast to there claim, "The high price of distillates (Gasoline, Heating Oil, Jet Fuel) is due to the lack of Refinery Capacity not lack of Crude Oil". And they are right!
Barring any unforeseen negative news, Light Crude Oil should move into the lower 60's for the near term or until that "Crude Oil Bottle Neck" dissipates.

Light Crude Oil sold at a high of $65.85 and a low of $64.60, settling in the middle at $65.07 a barrel, down 75 Cents from yesterday.

After yesterday's 5.2 Cent price jump, The National Average Price for Regular
Unleaded Gasoline only increased 1.3 cents today selling for $2.813. That's not too bad of an increase, considering what's to come when the gasoline inventory reports are posted.

Davitte’ Lanier
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Gas & Oil News Daily

> A Chronology of Rita By The Associated Press

There is a widening movement and growing discontent toward an un-responsive government in Nigeria. Among a long list of issues (at the top is) the distribution of the countries oil revenues. This Trouble in Nigeria will add a little up side pressure to Crude Oil, but don't forget about the bottleneck I spoke of last week!

Light Crude Oil settled today at $65.82 up $1.63 a barrel from Friday.

Gasoline on the other hand will be somewhat of a problem in the weeks to come! According to AAA Motor Club, The National Average Price for Regular Unleaded Gasoline has jumped 5.2 cents from Friday selling for $2.80 a gallon. How high and how long, this next up-serge in Pump Prices goes, depends on the Petroleum Industries ability to adequately supply gasoline to filling stations, and that is that! To fully rebound back to pre-storm production levels may take months. Mean while expect to pay high prices at the pump through years end!

Davitte’ Lanier
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Gas & Oil News Daily

"Hurricane Rita Up Date"
> Rita Track Map - 10am CDT Friday
> Storm overcomes New Orleans levee
> Bus fire kills 24 Rita evacuees
> Oil slips as Rita advances
> Rita Weakens a Bit, but Coastal Surges Still Feared

Just about everything that could go wrong is happening! There is a High Pressure Weather System in the center of North America, and that is going to cause Rita to "Stall" just after "Land Fall". The overwhelming rain will cause wide spread "Inland Flooding", that will create washed out roads (restricting assess except by air) throughout the region! I'm mostly concerned about the duration. The rainfall will be very heavy for several hours, dumping as much as "Thirty Plus Inches", and keep in mind (when the rain stops) it will take weeks or months for Refineries to be back on line! We are facing an "Unprecedented Calamity", and how the next few days play out, may reshape the fabric of the United States, for some time to come!

The National Average Price for Regular Unleaded Gasoline has dribbled back Nine tenths of a cent yesterday and Seven tenths of a cent today and is selling at $2.748 per gallon. Hold your breath here comes another "Wave of Price Spikes" at the pump!

Light Crude is starting to show sings of the eminent "Bottle Neck" (I mentioned yesterday) forming! By mid-day Light Crude dropped just over $2 and settled at $64.19, down $2.31 a barrel from yesterday!

Everybody across the country is going fill-up as soon as possible because they remember how gas prices jumped right after "Katrina"! That "Mass Thinking" (in it's self on a good day) will cause spotted outages and these are not "Good Days"!
Look, if you have a half-a-tank full of gas, and that will last you a week, DO NOT TOP OFF YOUR GAS TANK unless you need it! BUY ONLY WHAT YOU NEED.......
PLEASE FORWARD THIS WEB LOG TO ALL YOUR FRIENDS......
THERE IS ENOUGH GASOLINE FOR EVERYONE.......
"SPREAD THE WORD"

Davitte’ Lanier
Petroleum Industry Analyst

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Gas & Oil News

"Hurricane Rita Up Date"
> Rita Track Map
> Refineries closed as Rita nears
> Oil and Gas Prices Rise Again as Rita Approaches Texas Coast
> Texans Leave Houston and Coast as Hurricane Rita Moves Closer
> FEMA Sets Up Office in Texas As Rita Nears

The National Average Price for Regular Unleaded Gasoline has dropped nine tenths of a cent and is selling at $2.755 today. This is probably the end of the decline in pump prices and I expect to see a new upturn in pump prices by this weekend.

Light Crude Oil shot up to $67.95 and settled back today at $66.50 down 30 cents from yesterday.

Light Crude Oil is soon if not already headed for "One Big Bottle Neck"! It just stands to reason with the large number of US Refineries off line, an oil glut (in the market) is sure to follow and will pull Crude Oil prices down. That drop in Crude no matter how big, will not lower gas prices here in the US because we can't turn it into gasoline without Refineries on line and producing!

Everybody across the country is going fill-up as soon as possible because they remember how gas prices jumped right after "Katrina"! That "Mass Thinking" (in it's self on a good day) will cause spotted outages and these are not "Good Days"!

Look, if you have a half-a-tank full of gas, and that will last you a week, DO NOT TOP OFF YOUR GAS TANK unless you need it! BUY ONLY WHAT YOU NEED.......

PLEASE FORWARD THIS WEB LOG TO ALL YOUR FRIENDS THERE IS ENOUGH GASOLINE FOR EVERYONE.......
"SPREAD THE WORD"

Davitte’ Lanier
Petroleum Industry Analyst

Save Money and Gasoline Buy My Book Now!
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Davitte'

Gas & Oil News

This is The Week of Rita "Read All About It!"
> Rita Track Map
> Oil companies batten down for Rita
> Rita threatens Texas refineries
> In Face of Hurricane, a Rush to Secure Oil Operations
> Oil price up on hurricane fears
> Eurostocks hit oil slick
> Global market indicators negative on hurricane fears, rising oil price
> Dollar sinks on rise in oil price tied to Hurricane Rita

Light Crude Oil sold at a high of $68.10 and settled at $67.51 up 60 cents over yesterday. Right now Light Crude is just holding its own.....

The National Average Price for Regular Unleaded Gasoline has dropped 2.4 cents and is selling at $2.764 today.

Everybody across the country is going fill-up as soon as possible because they remember how gas prices jumped right after "Katrine"! That "Mass Thinking" (in it's self on a good day) will cause spotted outages and these are not "Good Days"!

Look if you have a half-a-tank full of gas, and that will last you a week, DO NOT TOP OFF YOUR GAS TANK unless you need it! BUY ONLY WHAT YOU NEED.......

PLEASE FORWARD THIS WEB LOG TO ALL YOUR FRIENDS THERE IS ENOUGH GASOLINE FOR EVERYONE.......

"The Week of Rite"!

Davitte’ Lanier
Petroleum Industry Analyst

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Gas & Oil News

The National Average Price for Regular Unleaded Gasoline has dropped 1.7 cents from yesterday and is selling at a bargain price of $2.788 a gallon today. You might think that $2.788 a gallon is no bargain but after Rita rips through The Gulf of Mexico you will. Offshore oil production in The Gulf of Mexico will be shutdown until Rita passes and that could take better than a week. Look for price spikes and dry gas pumps in the days to come....
Light Crude Oil got a shot in the arm today when OPEC announced they would open the oil floodgates if necessary to supply World needs, but for now they are playing a wait and see game. The real deal is, the US needs Refined Gasoline not Crude Oil.
Light Crude settled back off of yesterday's record price spike at $66.23 down $1.16 from yesterday, reported by CMM Money.
This week will be, "The Week of Rite"!

Davitte’ Lanier
Petroleum Industry Analyst

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Gas & Oil News

It seems to me, the petroleum industry is suffering from a case of indigestion, Gasoline dropped like a rock and Oil shot up like a rocket!
Light Crude Oil Sold at a high of $67.60 and settled at $67.39 that's a gain of $4.39 from Friday, CNN Money reported. This is likely do to the uncontainable fire (as reported by BBC News) in the North-Eastern State of Assam India causing "Market Jitters".
The National Average Price for Regular Unleaded Gasoline has dropped a whopping 8.2 cents over the weekend and is selling at the pump for $2.805 a gallon according to The AAA Motor Club . This was caused by a slight drop in overall demand caused by the damaged infrastructure from Katrina and to the large increase of Refined Gasoline Imports. This is a temporary lull before the storm, and I am not kidding. Tropical Storm Rita is headed toward The Gulf of Mexico and could be quite menacing to an already battered region!

Davitte’ Lanier
Petroleum Industry Analyst

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Gas & Oil News

The National Average Price for Regular Unleaded Gasoline has once again retreated but it is hard for me to believe it will continue this trend. The National Average for a Gallon of Regular Unleaded dipped 2.8 cents to $2.887 a gallon according to The AAA Motor Club .
Light Crude holding firmly in the mid 60's although it did do a little back step settling at $63 a barrel, down $1.75 from Thursday.
For the Best Ways to Save Gasoline & Money:
www.BetterGasMileage.com
Davitte’ Lanier
Petroleum Industry Analyst

Gas & Oil News

Amazingly enough The National Average of gasoline dropped another 2 cents from yesterday with Light Crude holding firmly in the mid 60's. The AAA Motor Club reported The National Average for a Gallon of Regular Unleaded sold for $2.915. Now with refinery capacity still severely restricted in The Golf Region according to Bloomberg, " U.S. output in the Gulf was 56 percent below normal, barely changed from the day before, a Minerals Management Service report yesterday showed. Katrina has halted a total of 20.5 million barrels of oil output since the hurricane entered the Gulf of Mexico on Aug. 26. That's equivalent to about one day's consumption in the U.S."
CNN/Money reported that Light Crude sold on the NY Exchange as high as $65.70 and settled 34 cents below yesterday at $64.75 a barrel. With US Oil Reserves in the wings to pick up the slack in supply, some of the immediate tension has been lifted, so gas prices "should" level off for the near term.
For the Best Ways to Save Gasoline & Money:
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Davitte’ Lanier
Petroleum Industry Analyst

Gas & Oil News

Another small slide at the gas pumps has brought prices down 2.1 cents to $2.935 a gallon from yesterday, according to AAA Motor Club. With Light Crude still holding in the low to mid 60's a barrel range, we may see a few more cents shaved off The National Average.
Light Crude Oil sold as high as $65.20 and settled at $65.09 up $1.98 a barrel from yesterday. This is the first major upturn in crude since it has retreated off of the record setting highs of the past Two weeks. As long as Crude Oil doesn't move back up to the upper 60's a barrel, gas prices should stabilize for the near term.
For the Best Way to Save Gasoline & Money:
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Davitte’ Lanier
Petroleum Industry Analyst

Gas & Oil News

The downturn in pump prices seems to be leveling off. The National Average Price for Regular Unleaded Gasoline has dipped 1.1 cents from yesterday and I expect it to hover around the current price for the near term.
Light Crude has been selling in the low $60 range owing to the slight reduction in Global Demand caused by Katrina.
Oil shock threatens world growth:
http://news.bbc.co.uk/2/hi/business/4218724.stm
For the Best Ways to Save Gasoline & Money:
www.BetterGasMileage.com
Davitte’ Lanier
Petroleum Industry Analyst

Gas & Oil News

US Motorists are beginning to get a little relief at the gas pumps! The National Average Price for Regular Unleaded Gasoline has dropped 5.1 cents over the weekend according to the AAA Motor Club and now is selling for $2.967 a gallon.
Light Crude Oil settled at $63.34 down 74 cents from Friday.
Katrina spurs new debate on energy, fuel economy, offshore drilling:
http://www.cnn.com/2005/POLITICS/09/12/katrina.energy.ap/index.html
IRS raises auto mileage rate:
http://money.cnn.com/2005/09/10/pf/taxes/irs_mileage.reut/index.htm
For the Best Way to Save Gasoline & Money:
www.BetterGasMileage.com
Davitte’ Lanier
Petroleum Industry Analyst

Gas & Oil News

The National Average Price for Regular Unleaded Gasoline has retreated another 1.2 cents from yesterday, bringing the pump price down to $3.018 a gallon. Although good progress has been made in restoring refinery capacity, Four Refineries are still off line and it will take months to repair the damage they sustained from Katrina.
Crude Oil is just lumbering in the mid Sixties and may be selling at that level for the near term, barring any unforeseen events that could affect supply.
For the Best Way to Save Gasoline & Money:
www.BetterGasMileage.com
Davitte’ Lanier
Petroleum Industry Analyst

Gas & Oil News

Here we go again it's the same old story, "Two steps forward and one step back on the Crude Oil Dance Floor". The National Average Price for Regular Unleaded Gasoline has decreased 1.2 cents and is now selling at the pump for $3.03 a gallon.
With the combination of Strategic Oil Reserves being tapped in several countries and an anticipated reduction in demand because of a perceived global economic slowdown (do to Katrina), the price of Crude Oil has been on the move down. The mid $60's for a barrel of crude, I believe is a bargain.
For the Best Way to Save Gasoline & Money:
www.BetterGasMileage.com
Davitte’ Lanier
Petroleum Industry Analyst

Gas & Oil News

The National Average Price for Regular Unleaded Gasoline has ticked up one tenth of a cent to $3.042 a gallon and it seems to me that this last Price Spike has leveled off. For the near term, I believe $3 a gallon for gas will be the new Bench Mark because of the loss of Refinery Capacity in the Golf Coast Region. As that lost in Refinery Capacity comes back on line, prices at the pump should ease back a little and I mean a little. When the flow of Crude Oil and the affected Refineries are back to pre-storm levels, you may think any Pump Price under $3 a gallon is a good deal.
Time, World Events, and the Hand of Man, in the past Two weeks, have caused Tens of Millions of Americans to dig deeper in their pockets to fill up their gas tanks, then ever before!
For the Best Way to Save Gasoline & Money:
www.BetterGasMileage.com
Davitte’ Lanier
Petroleum Industry Analyst

Gas & Oil News

The US has made it through the storm and is on the road to recovery. The Gulf Region Refineries affected by Katrina's vast destruction are now running at about 70% of pre-storm capacity. It could take several weeks or months, for full production to resume, leaving markets very jittery to say the least.
The National Average Price for Regular Unleaded Gasoline has dropped over this holiday weekend by 1.6 cents, and is selling at the pump for $3.041 a gallon. This indicates the current price spike is leveling off. The current price may retreat a couple cents before finding a new comfort level at about $3 a gallon across the country. With the dent we now have in US refinery capacity, we will be very lucky to see prices of all distillates holding at current levels. Winter heating oil production is going to be in a heated competition (pun intended) for "Refinery Capacity", against Gasoline and Diesel Fuel.
Crude Oil is moving sideways! By this I mean. The US and several other countries have tapped into their "National Strategic Oil Reserves" to insure the flow of Crude Oil to Refineries. World Oil Production is still pumping away at all time breakneck speeds and that is causing a little ripple in supply that looks like a surplus. This little ripple of surplus will vanish as soon as the US and those other countries begin to replenish
their "Strategic Oil Reserves".
For the US, $3 a gallon gasoline, is here to stay!
For the Best Ways to Save Gasoline & Money:
www.BetterGasMileage.com
Davitte’ Lanier
Petroleum Industry Analyst

Gas & Oil News

Gasoline price spikes and shortages at filling stations are things to expect for the near term throughout the US in spotted areas. This will happen because people do not understand just how drum-tight the difference is, between gasoline supply and demand. This next statement I purport might get you to thinking about how uninformed the US driving public is! At the best of times (when gasoline inventories are at a healthy surplus level) if every driver in the US "Topped Off" there vehicle on the same day, because of panic-buying, many gas stations across the country would temporally run out of gasoline. Now, we could be facing a situation of "Panic-Buying", at a time when gasoline inventories are strained and US refinery capacity is crippled because of "Katrina"! There is enough gasoline to go around and keep everyone on the road only if everyone doesn't try to fill-up on the same day because they are greedy and self-centered!
The National Average Price for Regular Unleaded Gasoline has soared up from yesterday, so much in so many regions, that The AAA Motor Club has put a special notice on their Web Site I have never seen before:
NOTICE:
Yesterday's average for today is different than the average that was posted as the current average yesterday. Due to the extreme volatility of yesterday's pricing, we updated prices multiple times and that resulted in the variance.
Here is the link to the AAA Motor Club's Web Site:
http://198.6.95.31
For the Best Ways to Save Gasoline & Money:
www.BetterGasMileage.com
Davitte’ Lanier
Petroleum Industry Analyst

Gas & Oil News

Here comes the "Spike"! The National Average Price for Regular Unleaded Gasoline shot up 6.1 cents from yesterday and now is selling at the pump for $2.680 a gallon. Crude Oil sold as high $69.60 and settled 53 cents up from yesterday at $69.47 a barrel. This upward price move is in spite of Bush making the Strategic Oil Reserves available to pick up the slack in supply caused by Katrina's damage.
We have used half of all the recoverable oil that ever existed on our planet:
http://www.hubbertpeak.com/summary.htm
For the Best Ways to Save Gasoline & Money:
www.BetterGasMileage.com
Davitte’ Lanier
Petroleum Industry Analyst