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Drop in Summer Traffic Causes Dent at the Pump
Gas prices usually peak in the summer when millions of Americans hit the road for weekend getaways. This year, however, a surge in unemployment and a drop in summer traffic have kept prices at the pump in check.
Gasoline prices are expected to average $2.49 a gallon nationwide from April to September, according to a report published by the Energy Information Administration (EIA). That’s down from $3.81 a gallon last summer.
But, falling prices at the pump won’t necessarily coax more drivers onto the road. The International Energy Agency (IEA) predicted that global oil demand would contract by 2.9% this year.
“I don’t know necessarily if…
20Jul2009 | Money Morning | 0 comments | ContinuedSpecial Energy Indicator Points Toward Higher Gas Prices – and a Potential 467% Profit Play
Here at Money Morning over the past six months, we’ve talked a great deal about oil and gasoline prices. We’ve offered our predictions about how high those prices were going, and have detailed a number of investment opportunities – chosen as much for their margins of safety as for their profit potential.
This time we’re going to detail three energy stocks with the potential for double-digit – or even triple-digit – profit gains. Admittedly, these are longer-shot, speculative plays. But we used a special energy indicator to help ferret out these energy plays.
This indicator is known as the “crack spread.â€
In case you’ve…
13Jun2008 | Money Morning | Comments Off | ContinuedNational Gas Prices
By Martin Denholm
Smart Profits Report
I hope you enjoyed the Memorial Day weekend – and that your wallet still has a pulse if you did any traveling.
I managed to pack in four barbecues (or “cookouts” to put it in American lingo) over the weekend – all pretty close to home – so not too much damage done. And with soaring gasoline and food prices contributing to a projected 3.6% rise in consumer prices this year, it might be the best way to go.
Gas prices obviously remain front-and-center of the news, so let’s check in and see how it’s affecting consumers on…
30May2008 | Smart Profits Report | Comments Off | ContinuedSoaring Oil and Gasoline Prices Worry Cost Conscious U.S. Consumers
The effects of soaring oil prices are finally trickling down to the pump and consumers are feeling the pinch.
On Friday, oil futures hit a new record of over $126 per barrel. Prices jumped 7.4% last week, with crude oil for June delivery trading as high at $126.20 on the New York Mercantile Exchange.
“Oil is a safe haven because of the weak dollar and how badly the financial sector has been doing,” Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts, told Bloomberg News. “There are also geopolitical concerns about places like Nigeria and Venezuela that are propping…
12May2008 | Money Morning | Comments Off | Continued
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