Monday, September 30, 2002

Now this gets tricky. Starting tomorrow, the refineries don’t need to make the special summer gas blends. These blends cause the “Chicago Summer Premium” which is built into gas prices right now. At the same time, it seems that when the stations raise prices lately, it has been to a 15-cent margin, not 20 cents. Also, futures prices (oil and gasoline) are up due to the coming war with Iraq. Put this all together, and I see that prices could fall quickly to $1.27, but that they could just as well rise quickly if futures prices spike. So, I’m not counting this as a prediction, but I’ll be watching day-to-day.

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