Not feeling like playing today: fill up for $1.50 if you can and go home

Tuesday, December 23, 2008, 1:45 PM:  Let’s review what has happened since the double-hike of December 11.  First, in Standale, Meijer didn’t match the second hike to $1.75, so prices were back to $1.59 the next day.  (Hooray for competition!)  Since then, they have not changed very much and were $1.55 or so this morning.  Everywhere else, prices have dropped, sometimes to the $1.50’s, sometimes still in the upper $1.60’s.  I understand from that gas is $1.45 in Hudsonville today.  Are they itching for a pre-Christmas hike on Wednesday?

Looking at NYMEX, prices are 20 cents a gallon cheaper than two weeks ago, including a big 8-cent drop yesterday.  AXXIS seems to be running ahead of NYMEX by a several cents, which is surprising this time of year.  Using NYMEX, there would be clearly no price hike this week.  Using AXXIS, it is not so clear.  So, I would fill up for $1.50 if I can and enjoy the holidays.

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