THE VAN DER VALK GAS PRICE ADVISORY FOR 3-23-09 – Aretha Franklin’s signature song is being revived by the banking industry and US Government to convince the skeptical American taxpayers to throw more of their good money after bad investments made by the Wall Street banks. Other bad news will follow as crude oil will follow suit and increase in response to this program, which is the government’s latest attempt to keep the financial industry afloat. Crude oil for May delivery raised towards the $53 a barrel mark this morning, the highest in almost four months. Continue Reading

April WTI crude oil is down over $3 to $41.50 a barrel so far this morning. That should be good news for oil refiners as long as the prices of gasoline and diesel do not start coming down again. Even though wholesale spot market pipeline prices for gasoline and diesel on the West Coast dropped 8 cents per gallon this morning, retail gasoline prices in the U.S. increased over the weekend. Increases in pump prices will unfortunately be a continuing trend regardless on where crude oil prices are heading at least for the next two months.
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