Monday, January 27, 2003

Oil and gasoline futures don’t look a lot different than a week ago, as the situation in Venezuela seems to have settled down a bit. But, it is going to be all-Iraq, all the time in the media this week. If it wasn’t for that, I would predict with confidence that prices would drift down to $1.39 by this weekend. Instead, I will predict with less confidence that prices will drift down to $1.39, so that the next price hike won’t be until next week at the earliest. WRONG! WRONG! WRONG! On Tuesday, the price went up to $1.59 all over town.