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Gasoline Gougecast: Gas prices should level off or drop by Monday

Oddly, a somewhat sunny unemployment report ( see http://natpo.st/ohY2PH) bouyed markets today. Usually low unemployment numbers make for bullish runs in the price of oil, but today oil remained stubbornly below the $100 barrel for WTI. We expect crude to saty in the $90 to $100 range through August due to slack consumer demand, and today's numbers on Wall Street appear to agree - the entire petroleum complex has fallen since Monday.  Locally, gasoline prices in San Diego have climbed by a ffraction of a penny every day for fourteen straight days, but this weekend could see a reveral to that trend. 

Wr are predicting that gas prices should stay level and even drop slightly by Monday morning (when we say "slightly" we mean no more than two and a half cents). A few dealers got wholesale price breaks this morning, and the spot market for raw gasoline dropped by about 4 cents. If the trend continues we could see price cutting of a penny or two per gallon by Monday, and perhaps more price cutting later in the week.