At the Root of Price Hikes

Comment on the April 12 posting:  We did get a hike, but not until that Tuesday.  Then another hike on April 21.  Prices have been falling since then.

Monday, April 27, 2015, 9:00PM:  Oil prices have been gradually rising this month. (And you have heard the radio commercials lately trying to entice you to invest in oil with Wayne Allyn Root?  I’m wary of any investment being advertised on ESPN Radio.)  NYMEX prices are back to $2 a gallon for the first time since Thanksgiving.  With retail prices doing their usual weekend slide, we have moved into price hike territory again.  Looks like $2.69 is very possible on Tuesday or Wednesday. — Ed A.

Nice weather for ducks this weekend

Comment on the April 7 prediction:  Since I was able to buy gas for $2.09 a gallon in Grandville on Saturday afternoon, clearly my prediction was WRONG.

Sunday, April 12, 2015, 7:00PM:  Not sure why we got such a gas price sale this weekend … maybe it was the wonderful weather.  But here are the numbers:  Chicago CBOB closed Friday at $1.65 a gallon.  Mix in ethanol, taxes, and middlemen, and I estimate that retailers are being charged $2.31 a gallon this weekend.  So, $2.09 is rather perplexing.  How can there not be a substantial price hike on Monday?  I’m going to fill up (again) on the way to work in the morning. –Ed A.

 

p.s.:  Nice Weather For Ducks!

Michigan to follow Indiana, Ohio with higher prices

Comment on the April 1 prediction:  Prices rose in Michigan on April 2 to $2.49, as predicted.  In Indiana, not so much.  Still, score it CORRECT.

Tuesday, April 7, 2015, 9:00PM:  Today, oil hit its highest price so far in 2015, and I expect gasoline to follow.  Wholesale prices keep moving higher, slowly but surely, and Indiana and Ohio finally caught up with last week’s price reset.  In Michigan, I’m expecting a hike back to the $2.49-$2.59 range before the end of the week. -Ed A.

Don’t be a fool — fill up tomorrow!

Comment on the March 18 prediction:  We eventually got a hike, but not until March 20 in Michigan, and later in Indiana.  I was WRONG.

Wednesday, April 1, 2015, 7:00PM:  Have you been enjoying prices near $2.20?  Lower wholesale prices have helped, but today the April fools jacked up wholesale prices and ethanol prices.  So, we are all set up for a price hike tomorrow, to somewhere around $2.49.  I will fill up tomorrow morning. — Ed A.

Chicago, We Have A Problem!!

Comment on Monday’s prediction:  Yup, prices rose to $2.49.  CORRECT!

Wednesday, March 18, 2015, 6:30PM:  I can’t believe this is the third time in a week that I need to post an update.  It seems to be a hot mess at the BP refinery in Whiting, which is a key source of distilled gasoline in the Midwest, and Chicago-based wholesale prices have gone insane.  Last Thursday it was $1.49 a gallon.  Right now, $1.85.  I’m pretty sure we are looking at another price hike on Thursday, to the neighborhood of $2.69 in Michigan.  Vernal equinox bleah!!! –Ed A.

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