Treasury Secretary Janet Yellen stated in a recent interview believes that the European Union could soon be affected by the embargo on Russian oil imports, which could cause gasoline prices to rise once again during this winter. With Russia still at war with Ukraine, one of their main funding sources for what they call their […]
Read MoreThe Truth, the Whole Truth, and Nothing but the Truth About Today’s Gas Prices
Most Americans have by now felt the impact of the ever-rising gas prices at the station. The national average is $4.305/gallon. With record-high levels in recent days, Americans are eager for relief. Given all the rhetoric surrounding gas prices, when can we expect to realistically see relief at the pump? Media is highlighting the Russian […]
Read MoreSkyrocketing Pittsburgh Gasoline Prices
In early 2020 at the beginning of the COVID-19 pandemic, gasoline prices in the Pittsburgh area dropped as low at $2.13 per gallon. With the war in Ukraine continuing to pressure global oil prices, local gasoline prices have risen all the way to $4.35 per gallon, a more than $2 per gallon increase from the […]
Read MoreWill Gasoline Supply Keep Up with the 2021 Driving Season?
Last December when the Pfizer and Moderna COVID-19 vaccines were issued emergency use authorization by the U.S. Food and Drug Administration (FDA), many of us thought the summer of 2021 was going to be an explosive driving season. That is certainly shaping up to be the case and fuel supply is struggling to keep up […]
Read MoreColonial Pipeline Update
On May 7th, the Colonial Pipeline was paralyzed with a ransomware attack halting 45% of the East Coast fuel deliveries. With the Colonial Pipeline shut down, consumers began panic buying which had a major impact on the readily available supply of fuel.
Read MoreBevy of Bullish News Sends Oil Prices Higher
The oil complex is trading much higher this morning due to a flurry of bullish headlines: increased chances of a federal stimulus package, weaker dollar, oil strikes in Norway, and the development of Tropical Storm Delta.
Read MoreMarket Meltdown
Unless you’re a bear hibernating, everyone knows the Coronavirus is causing panic and particularly panic in the markets. Speaking of bears, we are now possibly entering a bear market.
Read MoreWill Pennsylvania Raise Gas Taxes Again?
In an effort to reduce greenhouse gas emissions from transportation, 12 Northeastern states and Washington D.C., including Pennsylvania, are weighing a regional program that would raise the price of gasoline. The Transportation and Climate Initiative (TCI) defines their program as a “bipartisan group or Northeast and Mid-Atlantic Jurisdictions” looking to “achieve additional benefits through reduced […]
Read MoreLight Liquidity
As the end of this week winds down and people prepare for the holidays next week, light liquidity will most likely be the name of the game in our energy markets. Light liquidity means trading volume is lower than normal which is to be expected during this time of year. Therefore, the bid/ask spreads are […]
Read MoreThe Cost to Consumers
The events over the weekend in Saudi Arabia are causing concerns throughout the nation. The oil installations attacked resulted in the removal of six percent of daily world consumption, which will have an impact on motorists and consumers in the United States as early as today. The attack on Saudi Aramco’s Abqaiq plant in Buqyaq […]
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