Are you tense yet about war with Iraq? We will most likely see a serious spike in retail gas prices when the bombing starts. From what I read, that won’t be for another two or three weeks. As for right now, we just jumped to $1.59, so it is easy to predict that the price will be lower in a few days. Not much lower though!
Month: January 2003
Oil and gasoline futures don’t look a lot different than a week ago, as the situation in Venezuela seems to have settled down a bit. But, it is going to be all-Iraq, all the time in the media this week. If it wasn’t for that, I would predict with confidence that prices would drift down to $1.39 by this weekend. Instead, I will predict with less confidence that prices will drift down to $1.39, so that the next price hike won’t be until next week at the earliest. WRONG! WRONG! WRONG! On Tuesday, the price went up to $1.59 all over town.
Oh, there’s got to be a price hike Tuesday, around 11AM, to $1.57 or so. Oil and gas futures are up, and it has been two weeks since the last big jump up. almost CORRECT! 24 hours too soon, 2 cents to high.
Prices will go up this week … oops they already did. I was out of commission on Monday with a demonic sinus infection, but as I was driving to the doctor that afternoon, I saw gas in Jenison for $1.39 a gallon. That seemed weird, because I didn’t hear anything about oil prices falling dramatically at the beginning of the month. Looking ahead, expect the usual 1-3 cent drops each day into the next week. Unless one of the Iraq/Venezuela/North Korea situations escalates, there won’t be a price hike next week. CORRECT, more or less! The Jan. 7 price hike was followed by a big drop later in the week. Then, last week, prices fell slowly. Did the Iraq situation escalate?