Monday, October 6, 2003

There are two things tugging at prices right now. On the one hand, with October here, reformulated gasoline is no longer required to be sold, so wholesale prices to the retailers should be going down. On the other hand, a barrel of oil is above $30 again, after dropping below $27 two weeks ago. NYMEX gasoline prices have had a similar move. Since prices have hardly fallen at all since Thursday, I predict no price hike this week, but no signifcant drops either. (If we get a big move up in oil the next few days, then all bets are off.) The prediction that there would be no price hike was CORRECT.