For those of you keeping score, the price of a barrel of oil is down $2.55 as of 4:15 p.m. today, a little more than half of yesterday’s nearly $5-a-barrel hike that produced an almost instant 17-cent run-up at the pumps in Wichita.
UPDATE: No downward movement last night in the price of unleaded. And this morning, oil suddenly shot up $4 a barrel. What’s the moral? Time to fill up.
Cue the “price hike had nothing to do with the day’s trading” excuses in 3, 2, 1 …
So, if my math follows, a gallon of unleaded should be trading at around $3.56 tomorrow morning in Wichita, right?
Tune in tomorrow for further details.