Tuesday, August 7, 2007, 2:45 PM: As Patrick has noted, wholesale prices took a dive yesterday. At the same time, there was a price re-set in Indiana to $2.75. Since they tend to be a dime cheaper than us, that gives us an approximate 20-cent margin price of $2.85 and a 0-cent margin price of $2.65. The NYMEX 0-cent margin price is $2.44 right now, but we have been dealing with higher midwest prices for a while. Since retail prices pretty much everywhere are at $2.85 or higher, we can expect falling prices the rest of the week and no price hike.
