In the 1980’s, the Violent Femmes had it right: “You’re so ugly — you ain’t no friend of mine”

Sunday, May 8, 2022, 5PM: After $4.39 was finalized as the new price in the area this past Monday, you may be noticing they have been in no hurry to tick lower from that price. Yes, our usual suspects in Sparta and Comstock Park are competing on price, but driving around this afternoon I saw a lot of $4.39’s still. The reason is that the ugliness of 2022 has continued in the wholesale market, with oil up 5% the past week and gas prices up a quarter. I can think of several blameworthy reasons (this is usually the season of climbing prices as we move into summer; despite record high prices, demand hasn’t slowed down; maybe some trader shenanigans in the futures markets; just stop fighting in Ukraine already), but the conclusion is that we are queued up for another hike into record territory early in the week. Maybe as bad as $4.69? Fill up this evening if you can. -EA