Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: russwinter who wrote (10256)	8/6/2004 12:48:55 PM
From: mishedlo	Read Replies (3) of 116555

Russ - Thoughts on Unleaded Gas? Here is a post from Steve on the fool.... If UG was moving in parallel with POC as it did last spring, UG at retail would be $2.63 here, instead of $1.89. There was a gas war yesterday between a Marathon station and a Sunoco in a Detroit burb. The price got down to $1.37 before the war ended when the Marathon station ran out of gas. Refiners must be getting the beejus squeezed out of them right now. Retail gas prices are a political hot issue so I can't discount industry support for BushCo. I'm tempted to say that low gas prices are a result of supply and demand, but if that was the case, why would refiners use $44 oil to make $1.89 gas? Steve

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