No price hike in sight

Tuesday, August 7, 2007, 2:45 PM:  As Patrick has noted, wholesale prices took a dive yesterday.  At the same time, there was a price re-set in Indiana to $2.75.  Since they tend to be a dime cheaper than us, that gives us an approximate 20-cent margin price of $2.85 and a 0-cent margin price of $2.65.  The NYMEX 0-cent margin price is $2.44 right now, but we have been dealing with higher midwest prices for a while.  Since retail prices pretty much everywhere are at $2.85 or higher, we can expect falling prices the rest of the week and no price hike.

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