The National Average
Price for Regular Unleaded Gasoline did another little dip and dropped 6 Tenth's of a Cent and is currently selling for $2.932 a gallon.
Light
Crude Oil sold as low as $61.10 a barrel and settling at $61.84, up 48 Cents a barrel since yesterday.
"My Crude Oil Bottle Neck Theory":
Tuesday, September 27, 2005
Gas & Oil News Daily
Now with the "Bottle Neck" I spoke of last week being realized by OPEC, the
Cartel has decided to reduce production! Holding fast to their 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.
Thursday, September 22, 2005
Gas & Oil News
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!
Well here we are, and Light Crude Oil is Selling at $61.84 and it could drop a little more before it levels off. Once the price stabilizes it will go back up to that mid 60's price range as more refineries go back on line. As always, this is barring any unforeseen negative news.
Davitte’ Lanier
Petroleum Industry Analyst
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