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Article #442Re: Gasoline prices fallng
From: Don Homuth
Date: Thu, 28 Jun 2007 17:31
Date: Thu, 28 Jun 2007 17:31
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2870 bytes
On Thu, 28 Jun 2007 09:05:04 -0700, "Paul J. Berg" <pjberg@webtv.net> wrote: > >` >Gasoline prices across the nation continue to drop, but at a slower >pace than in previous weeks. >In the past week, the average price in Oregon fell by 4 cents to >$3.08. The national average dropped almost 3 cents per gallon to >$2.98. I paid $2.97.9 at my local Shell yesterday afternoon. But don't get Too comfortable with the price movement. Crude prices remain volatile: http://www.forbes.com/feeds/ap/2007/06/28/ap3866657.html Oil Hits $70 a Barrel Associated Press 06.28.07, 9:45 AM ET Oil futures briefly hit $70 a barrel in New York trading Thursday for first time since Sept. 1 after a government report showed that gasoline inventories dropped unexpectedly just as the summer driving season is about to hit its peak..." The general rule of thumb in the awlbidniss is that if crude prices rise, then retail prices increase overnight. If crude prices drop, then retail prices "drop at a slower pace than in recent weeks." If you graph the changes, the area under the curve indicates it's a way of maximizing revenues overall.
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