Despite price hike, we are in better shape than CA, NY price-wise

Wednesday, March 5, 2008, 1:30 PM:  AXXIS prices continue to run 18 cents below NYMEX prices, and Patrick recently quoted someone at OPIS who said that the upper Great Lakes is one of the weakest markets right now for gasoline.  The high NYMEX prices seem to be affecting the two coasts a lot more.  In further news, after yesterdays price reset to $3.19, NYMEX and AXXIS prices both fell hard, with AXXIS falling 8 cents.  Using AXXIS prices, it seems like we have about an 18-cent margin for a price hike lately, so that puts the retail price range based on this afternoons AXXIS prices at about $2.95-$3.11.  So, expect prices to drop the rest of the week and into the weekend, and look for gas under $3 in a few places.  Isn’t the annual March ramp of gas prices coming soon?

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