Thursday, July 8, 2005

While yesterday’s price hike to $2.35 was going into effect, prices on the futures markets soared, with wholesale gasoline prices going up 10 cents yesterday! Remarkably, a consequence of this morning’s London bombings is that oil and gas futures prices have dropped some, according to CNBC. So, I think the chance of a second price hike today (to $2.45) is pretty much zero, but I don’t believe we are going to be seeing much price cutting this weekend like we usually do. I reserve the right to change my opinion once I see how the futures trade today and tomorrow. Prices did not rise on Thursday, but they did on Friday, to $2.49!