Monday, July 19, 2004

Oil and gas wholesale prices were actually pretty stable last week, according to NYMEX. I’m really confused about the disappearance of the Chicago Summer Premium. Don’t get me wrong — lower than expected gas prices are great — but I’m wondering who is losing their profit here — the retailers, the refiners, or I don’t know who else? In addition, today we have gas prices ranging from $1.75 to $1.99 in town. So, I am finding this quite unpredictable right now. We’ll check back later in the week.