Posted by: Sanity Rules | July 17, 2008

Wholesale Gasoline Price Drops 30 Cents in Three Days

Well, the sell-off in the Oil Market has started. Back on June 6th, I wrote a post giving the Bull Market on Oil “until September 15th at best:. No doubt there will still be short spikes and drops between now and then.

The price will go up every time a Nigerian steals gasoline from a pipeline and blows up the town in the process, or Ahmadinejad “photoshops” another missile launch. Then prices will settle back down unless any Mideast wars break out, or unless there are other supply disruptions like a hurricane.

Shortly the prices of gasoline should start coming down as retailers sell off the inventory they purchased at the higher rates. When this happens and prices actually decrease due to market conditions, the idiots like Chuck Schumer will have to find some other topic to whine about.

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