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The van der Valk Gas Price Advisory for November 13, 2009

Dateline: Terry, Montana
November 13, 2009 9:00 AM MDT
By: Bob van der Valk

The December WTI crude oil price is down almost a buck a barrel this morning and is heading south somewhere towards the lower 70’s in the next few days. This is the beginning of the end in the late season run-up for crude oil prices. West Coast spot market pipeline prices are down 4 cents for gasoline and 5 cents for diesel as well. (more…)

Dateline: Terry, Montana
August 24, 2009
By: Bob van der Valk

The October West Texas Intermediate crude oil price went up to $74.37 a barrel at the settlement today. We have not seen the price of crude oil hit that mark since last October. This current up tick is the result of the bearish Energy Information Administration – Department of Energy (DOE) and American Petroleum Institute (API) inventory reports published earlier in the week. Both reports reflected huge unanticipated draws for all products including crude oil for the week ending August 14, 2009. (more…)

The price of crude oil has been hovering around $70 a barrel for the last week meanwhile gasoline pump prices in the U.S. and Canada are down by about a nickel a gallon or 1 cent per litre during that same time. The average price for a gallon of gasoline is $2.63 today per the AAA fuelguage report. Montana’s gasoline prices are averaging $2.71 barely nudging down from a week ago price. (more…)

While the market sorted itself out yesterday, I was busy trying to keep from running out of water at the Bob’s Big Boy Ranch in Terry, Montana. At one point we not only had our artesian well down but our hard water well had shut down as well. Unexpectedly, we had to make a quick trip and run out to the Terry Super Valu grocery store to stock up on bottled water. We may well be having a similar problem happening right now in the refining and petroleum business. (more…)

This week’s DOE inventory statistics came in way over expectations for crude oil stocks rising almost 4 million barrels, twice the number predicted by industry analysts. For the time being, we’ve got plenty of crude oil on hand but will it continue to be enough for the future? (more…)