More price cuts coming this week

Comment on last week’s post:  Absolutely CORRECT, as there was no hike last week, and prices have fallen as low as $3.24 around town as of June 6.

Wednesday, June 6, 2007, 2:00 PM:  It has been nice to see NYMEX prices drop the past week, “Speedway States” wholesale prices drop (the best that I can tell), and retail price drop.  Will this continue?  “Yes!”, I predict.  Indications are that wholesale prices have dropped 40 cents since topping out in mid-May, when we hiked to $3.65, so that puts us in a $3.05-$3.25 range before the retailers get itchy about doing a price re-set.  I think we’ll certainly see $3.19 somewhere by the weekend.  $3.09 by Monday may be asking too much, though.  (A commenter named “Retailer” on this site is more optimistic — suggesting $2.99!)

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  1. Rack prices went down another 7 cents last night. I would be shocked if there aren’t a few stations at $2.999 this weekend. That is around an 8 cent markup with today’s cost.

    If you had an empty tank today and got a full delivery, it would be very tempting to drop. But, it’s also tempting to make extra profit while other stations are stuck waiting for a cheaper delivery.

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