Comment on the March 16 prediction:Â We have only had one price hike in the past two weeks, to $3.39 on March 25, so the prediction was WRONG.
Saturday, March 29, 2008, 4:30 PM: On March 3, the wholesale price was $2.68 on NYMEX and $2.43 on AXXIS-Chicago, and the retail price was $3.05. During March, the AXXIS and NYMEX prices converged, and then AXXIS jumped ahead, so that on Friday, the wholesale prices that were reported were $2.71 (NYMEX) and $2.80 (AXXIS), which corresponds to a retail price with a 20-cent margin in the $3.50 to $3.60 range. Yet, we didn’t get the second hike last week, and the hike to $3.39 could have been worse. Thank you, Speedway? Nevertheless, look for another price hike in the coming week to at least $3.49.