Monday, May 19, 2003

If you thought winning in Iraq meant seriously lower gas prices, so far you are mistaken. Wholesale prices did drop significantly since mid-March, but they have climbed 15% lately (thank you, weak US dollar!), and we are back to where we were at the beginning of April. Back then, prices were in the $1.40’s and $1.50’s. Now, with the Chicago Summer Premium in effect, we can expect prices in the $1.50’s and $1.60’s. I expect another price hike later this week, to about $1.66. Prices rose on Thursday, May 22 to $1.59, so I was CORRECT about the price hike, but WRONG about the price.