Comment on the July 12 prediction: Prices rose to $2.39 in Michigan the next day, so the prediction was CORRECT.
Monday, July 25, 2016, 7:30PM: The quietness in the energy markets continues, but retail prices have been sliding nicely, especially in Indiana. Looking at my calculations, I think we are heading for a price reset on Tuesday or Wednesday. Wholesale prices are just about where they were for the last hike, so figure back to $2.39. -EA
Comment on the June 29 prediction: No hike over the 4th, so I was WRONG.
Tuesday, July 12, 2016, 10:30PM: It’s been nice as we haven’t had a hike in Michigan since the beginning of June. But in Indiana the other day, prices below $2 were too low for Big Red, and they saw a hike. Now, with wholesale prices creeping up the past several days, while retail prices drop, Michigan (and maybe the rest of the Midwest) is set up for a price hike by the end of the week. Maybe $2.39?
Comment on the June 15 prediction: We haven’t seen a price hike since June 8, so the prediction was CORRECT.
Wednesday, June 29, 2016, 9:00PM: Hey Matt in Lansing! This one is for you …. In the past three weeks, we’ve seen retail prices in Michigan fall from $2.79 to down to close to $2. That’s because wholesale prices were artificially high earlier in the month due to a short-term supply squeeze, and #Brexit hasn’t helped the energy markets much the past week. However, the last two days, we’ve seen some recovery in the wholesale price, while retail prices continue to drop, and we are near price-reset territory. Throw in a Thursday before a 3-day holiday weekend, and the best bet is that we see prices rise on Thursday. $2.49?
There is enough margin on price we should be good to go without another spike in the foreseeable future.
Ever wonder why premium has gotten so much more expensive in recent years? Gas Buddy analyst Patrick DeHaan was interviewed by my favorite car magazine. Enjoy!
Comment on the June 1 and 7 predictions: CORRECT and CORRECT, as prices soared the first half of June.
June 15, 2016, 7:30PM: After the crazy hikes the first week of June, fueled by the new normal of refinery and pipeline issues, wholesale prices have fallen hard this week, and I expect retail prices to follow. My estimate of the 0-cent margin price is $2.28 this evening, and retail prices are much higher right now. So, don’t be in a rush to fill up, and we should be good into next week. — Ed A.