NYMEX gasoline closed down about 3 cents Friday at $3.02 where it's been hovering for awhile. Normally, the NYMEX to pump margin here in Ft. Wayne runs at about 75 cents, which should have the price at about $3.799.
Something extraordinary has been going on lately, the price of gas has been ultra low lately (~$3.20s), when Friday morning it dropped to $3.189. I got the work truck out of storage and took on about 150 gallons for my skid tank & transfer tanks, because I knew that price was too good to last.
Saturday morning the price jumped to $3.499, up 31 cents. It's still running about 25 cents below normal.
There was an article at ZeroHedge last week that said gasoline deliveries were down an impossibly huge amount, which doesn't bode well for the economy, AT ALL.
Between the Chinese 'surprise' RRR and the Iran export halt to UK and France (and escalating tensions), Oil prices are off to the races this evening. WTI front-month futures have just broken $105 (now up more than 10% in the last two weeks), the highest levels in over nine months and just 8% shy of the 5/2/11 post-recession peak just under $115.