Econ-data: AAA Daily Fuel Gauge Report registered a moderately sharp rise of +0.9 cents

The AAA Daily Fuel Gauge Report registered a moderately sharp rise of +0.9 cents since Wednesday (from $2.318 to $2.327) in the retail price of a gallon of unleaded gasoline, a rise after six days without a rise after sixteen consecutive daily rises after nine days without a rise after thirteen consecutive daily rises. This was a negative report. Regular unleaded gasoline is now +11.9 cents above the level of a month ago, +27.4 cents above its May 2004 peak of $2.054, and -73.0 cents below its September 2005 peak of $3.057.

Using the rule of thumb that retail prices will tend to converge about 60 to 65 cents above the front-month NYMEX futures price (the so-called "wholesale price"), we could see $2.42 to $2.47 (using intra-day futures prices as of 11:39 a.m. MST) regular unleaded within a couple of weeks if the wholesale price were to remain steady. Retail prices could rise by +10 to +16 cents in the coming weeks. All of that is subject to dramatic change on a daily basis.

Out here in Boulder, Colorado, prices remain stable in a range of $2.21 to $2.29.

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-- Jack Krupansky