Monday, September 22, 2003

Retail prices have finally caught up with the huge drops this month in wholesale prices. Excellent! This morning, there are stations asking $1.44 a gallon — a 35-cent drop from 11 days ago! Today I invent a new character: Mr. Big. Mr. Big is the guy who decides when all the stations should raise their prices to the same price. The current wide variety of gas prices right now must be bothering Mr. Big, so I expect he’ll be ordering some sort of hike this week. The new price could be as much as $1.58, but no higher, and probably lower. There’s no better way to be WRONG than to predict a price hike that doesn’t occur. Prices stayed in the $1.40’s through today.