Expect more under $3 soon

Saturday, January 12, 2008, 3:00PM: I’ve been out-of-town much of the week, to rainy, cold Southern California. So much for a winter respite. I heard it was warmer here than in San Diego. Meanwhile, it has been pretty cold in the stock market, which has also affected energy prices. Oil is down from $100 to $93, and wholesale gas prices have been dropping, too. Using the good ‘ol 20-cent margin with either the NYMEX or AXXIS numbers, we get a range more or less of $2.91-$3.15 this weekend. So, prices have room to fall below $3, which has happened in a few places like Alpine Ave., but not very many. We could easily have a hike back to $3.09 on Tuesday, but it is too early to say for sure.

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