Gasoline inventories are up, up, up, and yet …
Comment on Tuesday’s prediction: Stock prices drifted lower through Thursday and we did not get a price hike, so I guess the prediction was CORRECT. Stocks hit new highs for the year on Friday, though.
Sunday, February 13, 2011, 7:45PM:
I know I am not going to have any time for postings the next two weeks, but I have time this evening to comment on a few matters. First, although stocks hit new highs on Friday, wholesale prices dropped a bit after Mubarak resigned in Egypt. So, at the moment, the 0-cent margin price is around $3.08. With retail prices as low as $3.06 in Lowell, We Are Setting Up For A Price Hike This Week, but I can’t predict when or how much.
In related matters, here is another example of how the supply/demand dynamic has broken down, gasoline inventories are at 20-year highs, yet prices are clearly not dropping. — Ed Aboufadel
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