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Hoosier Motor Club Gas Gauge 1/18/10 |
Trading was very light today due to the observance of Dr. Martin Luther King Jr. Day. While there was no formal settlement of prices, as of Monday afternoon the market price for oil was up 22 cents to $78.25 per barrel on the New York Mercantile Exchange.
Domestic economic health has emerged as a central issue [...] 01/18/2010
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Hoosier Motor Club Gas Gauge 1/13/10 |
Oil prices have dropped back some this week on the New York Mercantile Exchange.
However, despite the minimal price reduction, market oil prices are up roughly 20 percent over the course of the last month and have recently reached 15-month highs. Retail gasoline prices have paralleled the rise of oil prices and are up about 14 [...] 01/13/2010
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Hoosier Motor Club Gas Gauge 1/8/10 |
As always, there are multiple factors at play in accounting for the recent upswing in market crude oil prices and the resulting increase in retail gasoline prices.
For starters, a cold snap over much of the United States has convinced some investors heating oil demand will spike in the short term which is helping drag other [...] 01/08/2010
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Hoosier Motor Club Gas Gauge 12/30/09 |
Light market trading throughout this holiday period has contributed to somewhat erratic oil price swings to close out 2009. Of course, the markets are at least in part reacting to other large economic factors and news events as well.
The combination of light trading and unanticipated events has pushed prices up several dollars over the past [...] 12/30/2009
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Hoosier Motor Club Gas Gauge 12/23/09 |
Oil prices bounced around on the market earlier this week as worrisome international events and oil production news was offset by a stronger U.S. dollar.
As has been the case for much of the latter half of 2009, fluctuations in the strength of the dollar are still playing a major role in crude oil pricing.
For this week in [...] 12/23/2009
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Hoosier Motor Club Gas Gauge 12/10/09 |
Spurred by Federal Reserve Chairman Ben Bernanke’s comments that suggested the economy will likely take a slow road to recovery - and by a stronger U.S. dollar - oil prices fell significantly early this week on the New York Mercantile Exchange. Looking back, it appears that investors interpreted Bernanke’s comments as an indicator that a [...] 12/10/2009
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Gas Prices 101 |
Regarding gas prices, here are a few things to always keep in mind.
NOBODY can, with any certainty, predict gas prices! - There are a lot of groups and individuals out there who are willing to do so but they’re simply making a wild guess, just like you or I could. Honestly, it irks me to [...] 12/07/2009
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Hoosier Motor Club Gas Gauge 11/18/09 |
Market Overview
A potent mix of dollar weakness, growing international economic activity and better than expected retail sales data has helped oil prices move higher this week.
On the international front, news indicating the gross domestic product of Japan grew 4.8 percent in the third quarter of this year has signaled to many the potential for returning [...] 11/18/2009
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Hoosier Motor Club Gas Gauge 11/4/09 |
Market Overview
Oil prices have been up and down this week while hovering in the vicinity of $79 per barrel on the New York Mercantile Exchange.
Market watchers have cited the ongoing weakness of the U.S. dollar and solid Chinese manufacturing data as the major reasons for the fluctuations.
The dollar fell in value against the Euro yet [...] 11/04/2009
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Rising Gas Prices |
Have you noticed substantially higher gas prices this week? I’ll bet you have.
Here’s what we know…
Oil prices closed well above $79 per barrel Monday, ending the day up 91 cents at $79.44 on the New York Mercantile exchange. The closing prices marked a new high for 2009 and oil prices have remained high throughout most [...] 10/23/2009
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