Thursday 14 Jun 2007 | Posted By Patrick | Predictions
Thursday morning, 9:15am… NYMEX is looking steady and my benchmark station in Indiana is down a few more cents overnight. Some have been calling for a hike to $3.19, but its just not looking very likely. I think we’re likely to see prices fall to around $2.95 before any risk of a hike…
hopefully!
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We had a wholesale increase of around 5.6 cents last night. That puts our cost at around $2.91.
It’s possible that Speedway could restore to $3.059-$3.099, but I would assume they will wait till next week unless they expect another increase tonight.
The market has been up 5-7 cents all day. I would assume that we will have another 5+ cent wholesale increase for the weekend. Which would make it extremely likely that Speedway will go Monday, if not Tuesday. $3.159 is a good possiblity.