Monday, September 29, 2003

This is a difficult time of year to make predictions. With the end of September, the federal requirement for reformalated gasoline, to reduce pollution, is no longer in force, so the “Chicago Summer Premium” goes away. This should take 10 cents off of wholesale and retail prices, and I expect the CSP has already been shrinking. Without the CSP, the 0-margin price of gasoline is about $1.32 right now. Mr. Big might decide on a price hike this week, because some stations are selling gas for $1.37 right now, but I just don’t know, since prices are $1.47 in a lot of places, too. So, no prediction this week. Mr. Big ordered the new price to be $1.59 on Thursday. In a classic gas game moment, I was able to fill up at $1.45 at a station that was slow to implement the new price.

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