All time highs, new “RB” contract

Oil prices are flirting with all-time highs due to tensions about Iran and Nigeria, and wholesale gas prices are creeping up to follow. Fellow gas buddy Patrick DeHaan has pointed out to me to start watching the NYMEX “RB” futures, too, as they track the wholesale price of “Gasoline Blendstock”, which is what we are starting to use as they faze out the MTBE additive. Watching both “RB” and my old friend “HU”, I am getting the sense that a price hike is coming tomorrow or Wednesday, to $2.85 or higher. I don’t know when this ramp up is going to stop, but you can get gas for $2.61 in Sparta today. We saw a price hike on Tuesday the 11th to $2.89, so the prediction was CORRECT.