In following up to the poll question about tires, I wanted to make sure that the nearly 40% of you that didn't change your own tire at least have a good understanding of how to do it. After all, you may be in a rare situation someday out of the reach of today's best technology that would help you get back on the road.

I'm sure its happened to someone you know (or you)- getting a flat at the worst time- out of town, on vacation, on the way to work, etc. Sometimes time is of the essence, so we'll help those who don't know how to change a tire learn how.

The first few signs of a flat tire- excessive noise, steering trouble, braking trouble, or other people honking. The best thing to do at this point is to pull well off the road (to ensure your safety and those traveling with you), to examine the tire. If you notice the tire is flat, there are few options- they depend on the situation. If the tire has blown out, it is extremely unsafe to continue moving. The rubber may start flapping, breaking off and becoming flying projectiles. Do not drive the vehicle. If you don't notice any large holes, it may be safe to use a temporary patch- many of you have seen things like "Fix a Flat" that will inject a substance into your tire and inflate it. While this may ruin your tire, it may be enough to temporarily get your car to a repair facility. Those are the easy options when no one is around, but require you to carry a can of Fix a Flat.

In a week that has been more volatile than any recent week in memory, wholesale prices spiked mid-week, sparking increases at retail pumps. However, wholesale costs have crashed yesterday and today, hosing motorists who have to pay more as stations pay less.

What a week! I saw oil rise the most it has in months on news of colder weather, and an unexpected draw in gasoline stockpiles. A day later, oil lost all its gains on news of Central Bank concerns in Europe and a stronger dollar. Today, the sell off suddenly has gained momentum. Oil prices at this writing are off over four percent, and under $70. Wholesale gasoline is also trading much lower, off some 10-cents per gallon.

Gains early in the week were significant- enough to boost retail prices a penny overnight nationwide, with some areas of the Midwest seeing increases of 25-30cents per gallon. The timing couldn't be more off for motorists. Gas stations saw their cost rise sharply, raising their pump prices in response. Will stations now lower their price back to their week ago level as wholesale prices have dropped nearly 20-cents per gallon in just two days?

Meanwhile, all signs continue to point to lower prices. The dollar is improving significantly, trading against the Euro at prices not seen since May 2009. Even colder than expected weather isn't fueling the bulls today.

Bottom line for you this weekend- don't completely fill your tank. Many areas of the country (if not all!) will see prices slowly falling this weekend as long as these lower wholesale prices hold for just a few more hours.

We all know oil is a main ingredient behind running America- each day this month the United States will consume roughly 790 million gallons of oil products. At our peak back in August 2005, we consumed nearly 840 million gallons per day of oil products. With oil being the major component of every gallon, it's safe to say we require a lot of oil to feed our needs.

The U.S. produces oil as well as receiving it from oil producing countries, but only 25% of our need is fulfilled by oil produced in the fifty states. The remaining 75% of oil is imported from other countries, often shipped via crude carriers that have enormous hulls. Two classes of ships are too large to unload at many traditional ports- VLCCs and ULCCs (Very Large Crude Carrier and Ultra Large Crude Carrier). That's where the Louisiana Offshore Oil Port, also known as LOOP, comes in. LOOP is a port facility located in the Gulf of Mexico- that's right- in the middle of the Gulf (well, almost)! According to LOOP's website, the port is eighteen miles south of Grand Isle, LA in approximately 110 feet of water. LOOP also states that it is the only port in the United States that can offload VLCCs and ULCCs.

LOOP is an important part of the oil infrastructure, because without it, there would be no way we could fulfill our need for imported oil. If you notice, the location of LOOP is also a concern come hurricane season. LOOP has closed several times, but has large storage facilities so that in the case of disruption, impact is not as significant as could be.

With crude oil prices rallying yesterday to over $77 a barrel, today's DOE report likely will play a big role in either stopping the rally or aiding oil prices higher. For the week ending January 29, refiners utilized just 77.7% of their capacity- showing how dismal demand and profitability has become. While these numbers may reflect a poor showing, oil traders and firms will likely ignore the fact. Hopefully they can reattach their heads quite soon. We've not seen utilization that low since the 80's. (excluding Hurricane related shutdowns in the last decade)

The bigger picture today is overall demand. Gasoline inventories fell 2.3 million barrels, but largely in part that refiners are beginning to slow production of high RVP winter fuels in areas of the country- think of it basically as a clearance sale of winter gasoline. The refiners don't want to produce too much of the product because when summer rolls around, it can't be used. Basically, we'll seeing this winter fuel sell down and it will continue until inventories gradually empty out.

Psst- first off, this post contains a bit of sarcasm. Take in stride please- of course an animal isn't to blame! Sadly, it looks like the decline we've seen in gasoline prices since mid-January may soon come to an end. Gasoline prices have declined from their peak of $2.758 on January 14 to $2.65 today. Unfortunately, crude oil prices have reversed their losses and stand just over $75/barrel.

Perhaps we can blame the root of the rising prices on a groundhog- the "legendary" Punxsutawney Phil who this morning "predicted" that we would see an additional six weeks of winter. In agreement with Groundhog Phil, the Climate Prediction Center (CPC) is making a similar prediction for the Northeast and East Coast. The worry is that with the colder weather, we'll see an increased demand for distillate fuels. However, poor Punxsutawney Phil doesn't deserve the blame- it's up to Commodities Traders and fuel station purchasers to dictate where gasoline prices go, and between yesterday and today, we've seen wholesale prices rise five to seven cents per gallon. You can bet stations will be eager to raise prices the moment their prices rise as well, so as to not lose money on their main product.

Since many cars on the road today have Anti-lock Brake System (ABS) I believe it would be a good idea to take a look at how ABS works and give you some information about them.

Keep in mind, there are literally thousands of different models of cars on the roads today, so this is definitely not vehicle-specific. Some manufactures have vastly different ABS systems with different specifications than others, so if you have any detailed questions, refer to your users manual or dealer.

ABS is a system that helps with quick stops, slippery roads, or in any case when your vehicle is having a hard time stopping. The system works by utilizing sensors on each wheel that feed into a computer that determines if you need assistance stopping. With the system active, it helps the driver maintain control of the brakes and steering and attempts to stop your vehicle in the shortest distance. During routine travel and braking, the pedal of ABS equipped vehicles and non-ABS equipped vehicles will feel the same. However, that all changes when the ABS system activates. When the ABS system is active, the brake pedal will often pulsate, signaling that the system is attempting to help you stop.

Ever wondered how much energy (electricity, natural gas, etc) it takes to power U.S. refineries? It may astonish you. The data I'm using is from 2008, the most recent year that has complete data available. I've processed the data, researched prices, and calculated the costs involved.

In 2008, there were a total of 146 refineries in the United States that were operable, with four idle facilities. I will only concentrate on the operable refineries, as the idle facilities did not produce any product, but may have required energy.

According to the Department of Energy, the 146 refineries consumed the following in 2008:
98,769,000,000 pounds (44,895,000,000kg) of purchased steam (steam that is not produced by the refiner, but bought)
42,682,000,000 kWh of electricity
86,000 pounds of coal
710,500,000,000 cubic feet of natural gas
237,161 barrels of still gas
81,811 barrels of petroleum coke

Of note: liquefied petroleum gases and heavy fuel oil were also used, but not calculated as their use at U.S. refiners amounted to less than 6,000 barrels.

If you do some research, it's not hard to see how refiners bottom lines have taken a beating this fall and winter. The concern I have with losses at the refining level doesn't so much concern the money they lose as it does how the losses will impact gasoline prices in the future.

Companies strictly in the refining business are hurt the most- some refineries have been losing millions of dollars per day. The problem comes because supply is ample in much of the country. California (and the West Coast) is about the only area that refiners can turn a profit, and that's simply because California's air standards require a special fuel that costs more and is harder to produce. Even if you factor in refiner profits on the West Coast, many are still having a very hard time making any money at all, and what business can survive the long term losing money? The only one that comes to mind is the government.

So far in the last few months, we've seen a few refiners close their facilities indefinitely. This isn't just cutting production, its ceasing production, sending Americans home jobless, and basically shutting the plant down. While this doesn't have an immediate impact on gasoline prices, should the economy roar back to life and gasoline demand rises, we'll likely need the capacity that the shut refineries offer- and you can't just flip a switch and have the refinery running.

The DOE again reported a gain in gasoline inventories in its weekly Petroleum Status report issued this morning. For the week ending January 22, gasoline inventories posted a two million barrel increase to stand at 229.4 million barrels, a six percent gain over a year ago. Oil inventories dropped by 3.9 million barrels to stand at 326.7 million barrels, a five percent decrease over a year ago.

Looking at economic indicating distillate inventories, we saw a 400,000 barrel increase, leaving stocks at a plentiful 157.5 million barrels, a rise of nine percent versus a year ago. Distillate is considered a leading economic indicator because it is used for construction, heavy industry, and heating, all factors that reflect how healthy the economy is.

Looking at the bigger picture, gasoline inventories are nearly at a record high in the Gulf region, and the Midwest also has ample supply. In the next few weeks, we may see gasoline inventories pose losses as refiners move to liquidate winter-spec, high RVP fuels. High RVP fuels are cheaper because they contain cheaper raw materials, such as butane. High RVP fuels typically result in more air pollution, and are only used in the coldest winter months, depending on location. In moderate climates (California, Texas, Florida, Arizona, etc), they will soon be producing lower RVP fuels. The fuel will likely take weeks to reach pumps.

Let's face it- when gasoline prices peaked in 2008, we were hearing about all sorts of things to make our gasoline last longer and go further. There were some gimmicks- the fuel pills were a big one that I already touched on, but what about the additives we find in stores that claim to boost mileage?

You should note that federal law in the United States requires refiners to blend a certain amount of "detergents" or additives to the gasoline they produce. Some refiners have special additives, some market their additives more heavily than others. With the amount of additives in gasoline, store purchased additives are usually not necessary, and many times are bought on impulse.

For those who've walked down the automotive aisle, you know there are literally handfuls of different additives, many claiming to boost your mileage. The U.S. Federal Government even got involved in this- checking the manufacturers claims that their additives boost fuel economy.

Many folks get their oil changed regularly, but when was the last time you had your transmission fluid checked or replaced? You may say that you have a sealed transmission, and that replacing the fluid is not possible- but it is possible!

While some vehicles feature transmission fluid dipsticks to check your fluid level, some do not, also called "sealed transmissions". Both can be serviced and should be regularly. Transmission fluid is the lifeblood of your car, just as much as engine oil, which some people forget. Either way, to avoid having your transmission prematurely fail, I would strongly suggest having your fluid level and unit checked to ensure thousands of miles of motoring.

While you're at it, some transmissions also have a filter that should be changed. Many times, a filter is in your transmission if you have a larger engine, towing package, more expensive model, etc. Don't overlook the filter- just because you change the fluid doesn't mean your set. Ask if your vehicle has a filter, and if it will be replaced.

What a good week for consumers. Oil prices that began the week at $78.44 are currently at $74.97. Wholesale gasoline prices began the week at $2.06 are down to $1.97, a drop of nearly two cents per day.

The DOE report released was good, showed a build in gasoline inventories, demand that was low, and that there is plenty of spare capacity. The U.S. national average has turned the corner and begun to drop, and will continue to do so until next week. Prices in Canada can be expected to copy the slide I expect in the U.S. average, so if you can hold off on filling up for a few days, I would suggest doing that.

The U.S. dollar gained strength this week, starting off near $1.44 USD/EUR and currently trading at $1.4175 USD/EUR. The dollar has gained strength against other currencies as well, putting downward pressure on oil as prices become slightly more expensive in other areas of the world.

Wholesale gasoline prices fell this afternoon, with the NYMEX contract reaching $1.9975/gal, marking the first time in 2010 that prices have been under $2. It's been nearly a month since prices have been under $2, the last time in the days before Christmas.

This will be welcome news to U.S. and Canadian motorists, who've seen national averages climb to levels not seen since October 2008 in recent weeks. The U.S. Average peaked on January 14 at $2.758/gallon while prices in Canada peaked the same day at 102.138c/L. Prices in Canada had not reached that level since November 2009.

Meanwhile, oil is trading closer to $75 a barrel, a far cry from it's peak on January 7 when it hit $83/barrel. If you noticed, it took one week for gasoline prices to hit their peak, taking some time for the price increases to show up at the pump.

Much of today's losses are due to the significant gains in gasoline inventories last week, as reported today by the U.S. Department of Energy. While gasoline inventories gained 3.9 million barrels, it is more shocking to see that inputs to oil refineries dropped to levels not seen since Hurricane Ike ravaged the Gulf. (READ MORE!)

With the DOE report coming out one day later than normal, this prediction can't take into consideration how it will alter prices, however, prices should continue to head down across much of the U.S. and Canada.

Since the report tomorrow addresses just the 2nd week of 2010, I expect inventories continue to rise. I'm not expecting the great numbers that we saw the week before- I think the cold weather we saw will impact this report a bit more than others expect. I still believe we'll see inventories of gasoline and crude oil rise, but may see a reduction in distillate fuel inventories. Stay tuned to tomorrow's blog post for a recap of the DOE report and what it means. (READ MORE!)

Many people have asked- is there a better day of the week to purchase gasoline? Do the numbers and data support this? The short answer is yes- there are days that are statistically better for cheaper gasoline. While I'm pouring over GasBuddy data that goes back nearly a decade, I'll tell you the basics.

Gasoline prices do vary, constantly rising and falling, and typically prices are more stable in the early parts of a week (Monday and Tuesday). Thursday and Friday are when prices are more likely to rise, perhaps as a result of the Department of Energy report that is usually released Wednesday morning.

For now, I can tell you that in 2009, when comparing Monday and Friday, odds were almost two to one that prices were higher on Friday than on the previous Monday. While there is much data to process and calculate, a few simple tips that everyone can do will save you money. (READ MORE!)