The gas prices are dropping and Don Good from the Good Oil Company in Winamac gives us his analysis of the current trend.
“Part of it is that this time of year, we go into what they call the turn around on the terminals which is an environmental requirement,” explained Good. “All the refineries pull their inventory down to put the summer-grade gas in and that always creates some glitches, but it also creates some opportunities for the speculators. I think there has been some economic news that has come out that kind of spooked them a little bit. There’s actually been a drop in demand so that spooks the speculators a little bit and when they leave the market, prices are going to come down now. This is the most volatile time I’ve ever seen. In this industry, we’ve seen where one night it goes up twenty cents and the next night it comes down fifteen cents. Usually, it takes some type of disaster to create that kind of volatility, but right now it’s just mainly the speculators jumping in.”
