U.S. Records Another Record For Retail Gasoline

“The following is an excerpt from Tim Snyder’s “Weekly Quick Facts” newsletter. Tim is an accomplished economist with a deep understanding of applied economics in energy. We encourage you to visit Matador Economics and learn more about Tim. While there, you can sign up for his completely free Daily Energy Briefs and Weekly Quick Facts newsletters.”

Last week’s jump in retail gasoline gives the US another dubious record, the highest average price ever recorded. Diesel is tracking back into record territory, as well. Families and businesses alike across the country feel the pain of these economy-killing prices continuing to spike. In interviews across the US, economists are being asked how much higher can these prices rise. The answer is always sobering.

Gasoline Prices

With no intention of changing the direction the Biden Administration is heading, some are speculating that we may see diesel over $8.00 per gallon and gasoline over $6.00 per gallon by Mid-Summer.

We must remember that this time of year represents planting season for our nation's farmers and graduation for so many of our young folks. It also represents the beginning of the “Drive Season” and a time when families travel for vacation. Continue reading "U.S. Records Another Record For Retail Gasoline"

Retail Fuel Prices Skyrocket

“The following is an excerpt from Tim Snyder’s “Weekly Quick Facts” newsletter. Tim is an accomplished economist with a deep understanding of applied economics in energy. We encourage you to visit Matador Economics and learn more about Tim. While there, you can sign up for his completely free Daily Energy Briefs and Weekly Quick Facts newsletters.”

Today’s fuel prices are showing us that with increasing demand, the price for refined products will continue to rise, even with a somewhat stalling crude oil price. Today’s EIA posting for On-Highway Retail Gasoline price was $4.107 per gallon. Remember, in 18 states, beginning this Saturday; the US EPA has mandated the more expensive “Summer Blend” of gasoline. This gasoline blend will stay in place until Mid-September, as demand remains strong and the temperatures are warmer this time of year.

Diesel prices look to be outpacing gasoline and the changes in crude oil prices as well. Monday’s EIA posting for On-Highway Retail Diesel price was $5.16 per gallon. These prices will soon eclipse the records we saw in March of this year. We were trading at $5.25 per gallon on March 14, 2022, and with diesel fuels' current supply issues, we will top this by Mid-May. This will push food prices higher and make planting time in the Agriculture space as expensive as it ever has been!

We’re still on an upward track on fuel prices! Continue reading "Retail Fuel Prices Skyrocket"

End Of The Pandemic Or The Beginning Of A Recession?

“The following is an excerpt from Tim Snyder’s “Weekly Quick Facts” newsletter. Tim is an accomplished economist with a deep understanding of applied economics in energy. We encourage you to visit Matador Economics and learn more about Tim. While there, you can sign up for his completely free Daily Energy Briefs and Weekly Quick Facts newsletters.”

What is it about the truth that scares people?

Gasoline prices this week took a bit of a respite after several weeks of steep climbs. The relief at the pump is palatable and very much appreciated by those on fixed budgets. But the fall from record highs, may not continue if inflation continues to run unchecked.

Diesel prices fell as word of another variant of Covid-19 seems to be making the rounds. The Chinese Government shut in 26 million people this week, sending a signal that demand for the products may falter over the next couple of weeks.

Gas Prices - Recession

Are we at the end of the pandemic or the beginning of a recession? Continue reading "End Of The Pandemic Or The Beginning Of A Recession?"