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I'm sure this will drop like a rock but is there any Good News out there?
The wholesale price of gasoline closed today (Thursday, November 20) at $1.00-70/100 a gallon, down 10¢ a gallon for the day, and, more importantly, down 72% from the $3.56-32/100 a gallon close on Friday, July 11.
Retail gasoline prices tend to be at a $0.75 to $1.25/gallon premium to the wholesale gasoline price as traded on the New York Mercantile Exchange, which would mean that a wholesale price of $1.01/gallon would indicate a retail price of $1.76 to $2.26/gallon, depending on where in the U.S. the retail pump might be located.
Last edited by Walter Greenspan; 11-20-2008 at 05:53 PM..
It's probably gonna be cheaper to drive than take the LIRR or LI Bus with the fare hikes. 25% increase on the LIRR and 40% on LI Bus. At possibly $3.50 a ride alot of ppl are going back to their cars and yours truly may actually start looking into driving as well.
I'm loving these gas prices. I paid $2.15 today...I don't have any money tied up in serious investments so the worldwide financial clusterufffck of 2008 has been somewhat beneficial to me so far.
At the BJs Wholesale in Farmingdale, gas was $2.10 a gallon. Not bad, but I refuse to wait on that line just to save a few cents per gallon. Even if you fill the the savings don't even amount to $2 or $3.
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