Prediction: No price hike through Sunday

I have been quite surprised with the way NYMEX prices have been dropping since August 2, particularly the ethanol-based RB “Blendstock”. Monday’s hysteria seems quaint today. Also, the DOE report has us with lower gasoline stocks, but NYMEX prices have just strugged. Is demand for gasoline dropping? I don’t know, but right now I’ve got the 0-cent margin price at $2.78 and the 20-cent margin price at $2.99, while prices are above $3 everywhere but Grandville. That means prices will continue to fall, and I am going to stick out my neck and say through Sunday.

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