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

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Davitte'