The wholesale price of oil has held between $77 and $80 per barrel for about a month now with ups and downs from 50 cents to $3 per day. In the last two weeks I have watched it drop about 10 cents in a lot of places. However this morning I discovered it had jumped 12 cents at my local high volume dealer after sitting steady at $2.42 to $2.43 for a week. Now it is $2.55.

The price for a barrel of wholesale crude dropped today and the retail price of refined gas jumps. Logical plain economics to some, but I would not have passed Economics 101 in college using that approach.

Have a good and safe Thanksgiving and hopefully the price will drop a little (we can dream a lot) by then to make your travels a little less costly. I drive about 700-800 miles for a normal week so I watch gas and oil prices closely.

Dwight

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