By Brian L. Milne, Energy Editor, Schneider Electric The nearest delivered gasoline futures contract—reformulated blendstock for oxygenate blending, fell below $2.50 gallon in trading on the New York Mercantile Exchange for the first time since 2011, trading at a $2.4945 23-month low Nov. 7. The contract, which has technical support at the $2.4440 gallon November…
Gasoline Prices Tumble as U.S. Crude Supply Builds
By Brian L. Milne, Energy Editor, Schneider Electric Seasonal weakness has dovetailed with building crude supply in the U.S. to pressure gasoline values with retail prices last tallied at a 10-month low while in futures trading the nearby contract is retracing the down move to the November 2011 low at $2.4440 gallon. November is prime…
Libya Output Cuts, Wavering on Fed Tapering Supports Gasoline
By Brian L. Milne, Energy Editor, Schneider Electric After sliding to a 16-month low Oct. 24 at $2.5417 gallon, New York Mercantile Exchange November RBOB futures rallied 10cts through Monday (10/28), underpinned by technical support, news Libya oil production was sharply reduced and on market expectations the Federal Reserve would continue its bond buying program…
Retail Gasoline Prices Continue Slide Amid Seasonal Weakness
By Brian L. Milne, Energy Editor, Schneider Electric Retail gasoline prices tracked by the Energy Information Administration (EIA) were under pressure in September, with their national average for regular grade gasoline registering a fourth consecutive weekly decline through the week-ended Sept. 30 at $3.425 gallon, an eight-month low. It’s unclear if the EIA would update…
Iran Thaw, Beltway Standoff, Seasonal Feature Pressure Gasoline
Brian L. Milne, Energy Editor, Schneider Electric Seasonally, gasoline prices trend lower this time of year from higher summer values, albeit if the industry is not battling supply disruptions caused by a hurricane, with the peak storm season for the Atlantic Basin from late August through September. The hurricane count has been light this season…
Gasoline Futures Contract Tumbles to Nine-Month Low
By Brian L. Milne, Energy Editor, Schneider Electric The nearest delivered New York Mercantile Exchange gasoline futures contract, known by the acronym RBOB, slide Sept. 17 to its lowest point since mid-December 2012, trading down to the mid-$2.60s before rallying a dime from a near double bottom low Sept. 18 after the Federal Reserve announced…
Wholesale Gasoline Prices under Pressure Amid RVP Transition
By Brian L. Milne, Energy Editor, Schneider Electric Wholesale gasoline costs moved mostly lower during the second week of September, pressured since Labor Day, with the holiday signaling the end of the driving season when demand eases from summer highs. The decline came despite curious rhetoric over the Syrian crisis, and later in the week…
Outages at Refineries in California to Lift State’s Retail Prices
By Brian L. Milne, Energy Editor, Schneider Electric A string of outages at refineries in California during the first week of September spiked spot gasoline prices in the state with those costs to be passed through the supply chain to retail outlets, pushing pump prices there higher despite a lower trending New York Mercantile Exchange…
KickBack Rewards Systems Kicks Off Fantasy Football Season
Cardholders can build their Fantasy Football team when using their KickBack card at participating locations and will compete against other KickBack cardholders for a chance to win two tickets to The Big Bowl Game, February 2, 2014 at the MetLife Stadium. With the start of the 2013 National Football League season, KickBack Rewards Systems is…
U.S. Gasoline Demand shows Summer Sizzle
By Brian L. Milne, Energy Editor, Schneider Electric U.S. retail gasoline prices fell to a five-week low Aug. 12, but the futures contract for gasoline then gained more than 6.0cts during the week-ended Aug. 16, with the 2.1% advance supporting higher wholesale costs in a number of metropolitan markets. A decline in pass through costs…