Prices are now in the low $1.30’s. I think they go lower, still, with no price hike this week. Instead, look for a price hike on 11/25 or 11/26, right before Thanksgiving. CORRECT and WRONG. Prices went lower, but there was no price hike before Thanksgiving.
The temporary closing of the Marathon in Standale has thrown off my observations, as that is the station I see most often. However, wholesale energy prices have just plain collapsed this week. So, instead of $1.60, as I predicted Monday, it is looking more like $1.40, or lower. Don’t be in a hurry to fill the tank (like I did on Tuesday). CORRECT! Wow, what a drop!.
I hate to say it, but I think prices will be above $1.60 at the end of the week. Chicago wholesale gasoline is trading 20 cents above prices in New York. Right now it looks like the Midwest has the highest gas prices in the country. WRONG! Prices have dropped below $1.50, except in Standale.