Month: January 2005

Tuesday, January 25, 2005

For the foreseeable future, I’ll be posting on Tuesday morning. Late last week, oil prices jumped again, indicating a new price of $1.99 coming up later this week. Another half-CORRECT, half-WRONG sort of prediction. The price hike filtered through GR on Wednesday afternoon and evening, but the new price was a stunning $2.09 after a big jump on NYMEX the day before.

Tuesday, January 18, 2005

Oil and gasoline wholesale prices continued their rise late last week, and again this morning. I suspect this is connected to the upcoming Iraq elections, but the upshot is that I’m pretty certain that there is another price hike coming between now and Thursday afternoon, to at least $1.99, but maybe higher. Basically CORRECT — we had a price hike on Thursday, but not as high as I thought, just to $1.95.

Tuesday, January 11, 2005

Happy New Year to everyone. I’ve been busy with the holidays, the stomach flu, and a trip to Atlanta. Meanwhile, the retailers have been busy raising prices. Right now, it looks like another price hike is in store for Thursday. As of the end of business Tuesday, futures prices are indicating a 20-cent margin price of $1.93, and prices are down to $1.79 in certain places. If the DOE report tomorrow causes a big change in wholesale prices, I’ll post again, but otherwise, expect a price hike on Thursday. The price prediction was perfect, but the hike came on Wednesday, not Thursday, so 1/2 CORRECT, 1/2 WRONG.

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