Monday, July 28, 2003

Since the beginning of June, oil futures prices have been hovering around $30 a barrel, and since mid-June, we’ve seen retail gas prices get set at about $1.59, then drop slowly to about $1.39, and then reset to $1.59 on a Thursday. Unless something happens to oil futures prices the next two weeks, we can expect the pattern to repeat. So, no price hike this week, but a price hike next week. And I guess it will be on Thursday August 7. Well, there was a price hike “next week”, namely on Monday August 4th, and a big climb to $1.69. Oil futures did go up somewhat, but I have to label this prediction more WRONG than correct.

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