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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