Friday, October 14, 2005

2:00 PM: NYMEX futures prices have fallen another 14 cents this week. Right now, that puts the 0-cent margin price at $2.19 and the 20-cent margin price at $2.41. However, we know that prices have been staying above the 20-cent margin price the past few weeks due to the “fudge factor” difference between New York and Chicago prices that is probably still due to hurricane damage. Nevertheless, prices will continue to fall, perhaps with some drama, this weekend and Monday, so don’t rush to fill up. Prices continued to fall, slowly but surely. The morning of 10/19, you could buy gas for $2.47. The prediction was essentially CORRECT.