Could have been worse

I was suprised that last Wednesday’s price hike wasn’t worse, given past history. Also, seeing prices in Grand Rapids and Detroit (where I visited last weekend) in the mid $2.20’s makes me wonder why we are getting such a discount right now versus the New York Unleaded (NYMEX) prices. I’m not complaining, but it makes it harder to predict a price hike, when you don’t know where the bottom is. But, factoring a 12-cent “fudge factor” discount, retailers must be paying $2.20 right now, so on the Northeast side of town, we are at the bottom right now. So, the crystal ball says a price hike this week, but maybe not until Thursday, with a new price in the $2.40’s or $2.50’s. Early Wednesday, I took back this prediction.

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