The revised lower GDP did not affect prices today and the the falling dollar was not considered the main reason why prices dropped. The fear of a tropical storm developing in the Gulf of Mexico and disrupting supply raised prices to the highest level since May 5. Prices have been staying in the $75 to $78 channel for a couple of weeks but today's price surge led beyond $79 but settled barely below that number. Product prices followed suit and overcame the worries about weak demand.
For the week, crude +$1.71, $78.88, gasoline +7.76¢, $$2.1679, distillate, +5.61¢, $2.1123. Street prices up to $2.479.
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