Friday, July 6, 3:10 PM:  NYMEX wholesale prices have been about the same since mid-June, while the two hikes to $3.19 the past two weeks indicates wholesale prices here are running about 15 cents above NYMEX.  That’s the dreaded Chicago Summer Premium, which is bad this year as a hangover from the refinery troubles in May.  It is hard to determine how long the CSP will last.  Today, I’m seeing indications that wholesale prices are up 3 to 5 cents.  That should mean we won’t see any big retail price drops this weekend.  I’m going to start watching Chicago prices rather than Minnesota on AXXIS, as I continue my pursuit of more accurate wholesale prices.

Tags: , , ,