Monday, June 13, 2005

Wholesale oil prices are up 4% today, although wholesale gas prices are up just modestly today. They had their jump on Friday. With prices as low as $2.03 in town this afternoon, look for a price hike soon to about $2.31. Prices rose to $2.25 or so the next day, so basically CORRECT, although I was a little high on the price prediction.

Wednesday, June 1, 2005: I take a few days to visit the parents out of town, and I return to chaos. List me as a witness to the madness on 44th Street Tuesday afternoon, when the Rich station at Kalamazoo had raised prices to $2.19, while the other stations nearby (Admiral, Meijer’s, Citgo) were still at $1.84 or so. Wow, those were impressive gas lines. Meanwhile in Standale, prices made a “big” jump from $2.13 to $2.19. Meanwhile, I’ve started tracking prices in Fort Wayne, Indiana (where I went to high school), and prices have been stuck in the mid-$1.90’s for two weeks — no big drops down and no big hikes up. Looking ahead, wholesale prices have been trending higher since May 20 and that continues today, which means we should worry about another price hike next week. That’s all for now, and my next post won’t be until June 14. There was a price hike to $2.26 on Tuesday, June 7.

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