Friday, September 12, 2003

Boy, did I lose the Gas Game this week. Early in the week, I was down to empty, but figuring prices would continue to fall, I only bought 5 gallons, at $1.69 a gallon. Two hours later, the price was $1.66. Today, I’m back to empty, and angry to see that prices reset to $1.79 yesterday. I have no explanation for it. Wholesale prices, as reported by NYMEX, continue to sink, and are the lowest since May, when prices were in the $1.50’s. Did a refinery in Chicago go off-line yesterday? Are the gas stations expecting everyone to drive to the U-of-M/ND game tomorrow? My prediction is that this price hike won’t stick. You will find gas for below $1.60 a week from now, and maybe some brave stations will test a price of $1.50. Now to go buy another 5 gallons. My last entry was a rant, but it was a CORRECT rant. Prices dropped dramatically late last week, and at least one station on Friday listed regular gasoline for $1.49.

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