Keep your eye on the gas pump today. Prices are on their way up.
The Energy Information Administration released its weekly report on the status of petroleum inventories in the United States today. The good news is, crude oil inventories increased. Bad news is gasoline inventories decreased. Patrick DeHaan at GasBuddy dot com says the combination of less gas and a large oil refinery damaged by a tornado in Louisiana prompted a market reaction and a gas price spike today
"Gas prices in the Grand Rapids area are on their way to $3.95 a gallon. A surprising increase. I would have expected an increase to maybe $3.89. I'm not sure why prices hit $3.95. Prices are going to $3.99 in Indiana and Ohio and those states are usually ten cents cheaper than in Michigan."
DeHaan says prices should reset to the mid-3.80's by next week.