We’ve added a new function to the site — a forum to connect with other GasGamers and engage in on-going conversations on gas prices. You can see the button up on the right side of the menu bar on the main page. This forum is in addition to the commenting feature for individual posts (which we accidentally turned off for a few days — sorry!), and we hope to see you there! I just started a new thread. — Ed A.
Comment on the December 17, 2017 prediction: Yes, there was a reset to $2.65. Then, after Christmas, another one to $2.75. CORRECT on the first one.
Monday, January 1, 2018, 6:00PM: Happy New Year to our readers! Thanks for checking in with us regularly. For gas prices, short-term, since we just had a hike late last week, prices ought to do their slow slide until we get back into price-hike territory. As far as fearless 2018 predictions, I’m sensing more volatility than in 2017, when retail prices pretty much stayed in a 40-cent range once we got to mid-February. Oil prices, currently at $60, have room to head higher, in part related to some new inflation due to a strong U.S. economy beings stoked by new tax-cut stimuli, and that will send gas prices up. I think we’ll see prices over $3 a gallon sometime this year, maybe as soon as this month or February. Stay tuned! -EA
Comment on the December 3 prediction: Absolutely CORRECT, as prices reset on 12/4 to $2.59 in Michigan. Since then, we have slowly moved lower.
Sunday, December 17, 2017, 7:00PM: Oil and gas prices have been a real snoozer so far in December, other than the reset on the 4th, and what was the deal in Fort Wayne last Thursday? I think we reset this week, back to $2.59 or so to celebrate Christmas, which would not be a big deal in Walker ($2.48 right now) but would be bigger deal on Plainfield ($2.29 at the moment). Still looking for prices to climb in early 2018, because that’s usually what happens in the early part of the year. -EA
Sunday, December 3, 2017, 11:00AM: Back in early September, oil was trading at $48 a barrel, and price reset in Michigan to $2.79 on the 5th. On Friday, oil was trading at $58 a barrel, and gas prices … as low as $2.19 in Wyoming. But, I also saw a $2.69 yesterday in Lansing, and everything in between in the southern part of the state the past two weeks. So, what’s going on? For one, retail gas prices tend to drop in the fall, typically bottoming out in December, as we switch from summer to winter gas. Also, we had a spike in wholesale prices in the first week of November, related to some temporary shortages that have been worked out of the system, and it looks like some of the stations are having a “clearance sale” now to right their books. One other consideration is that ethanol, which makes up 10% of what you put in your tank, has been dropping in price the past few months. Looking ahead short term, I think we reset across the board this coming week, in the neighborhood of $2.59. Longer term, I suspect we’ll be starting our winter price climb this week, as gas prices catch up to oil prices. -EA
Comment on the November 1 prediction: Well, that was WRONG, as prices didn’t rise in Michigan until a week later. Weird, given the hike in Indiana.
Tuesday, November 21, 2017, 7:00PM: After three hike days in October, it has been a quiet November with only one hike day so far. The Midwest shortages seem to have sorted themselves out, and wholesale prices have been dropping steadily since the beginning of the month. I would say that I’m not seeing a hike on the horizon, except that gas is $2.20 in Sparta this evening, $2.33 in Cedar Springs, and $2.35 in Wyoming, all below the 0-cent margin price I calculate. So, they could try to reset across the board to $2.59 on Wednesday, or Big Red might give us a Thanksgiving treat. No prediction at this point, but keep an eye out if a hike emerges tomorrow morning. – EA
Comment on the October 29 prediction: Pretty much CORRECT, as prices rose to $2.69 on Monday.
Wednesday, November 1, 2017, 9:30PM: Wholesale prices in the Midwest are a runaway train this week, and we’ve already seen a jump in Indiana today. Michigan should see prices rise on Thursday, somewhere in the $2.79-$2.99 range. What is going on? A huuuge growing mess of shortages, according to Reuters, and no obvious relief in site. Fill up again! -EA