Monday, July 12, 2004

It seems that for the past month or so, retailers have been less enthusiastic about higher prices. Last week’s price hike, for instance, suggests a 2-cent Chicago Summer Premium (usually 10-cents at this time of year), and the price hike did not quickly spread around town. Then prices fell quickly over the weekend (8 cents in one day in Standale), and you can buy gas for $1.82 a gallon at the moment. However, futures prices keep rising, which means they’ll reset the prices again this week, to around $2.08. 1/2 CORRECT, 1/2 WRONG. Prices reset on Thursday to $1.99, not $2.08.

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