After last week’s price hike, futures prices have been drifting lower, so I think we are safe this week — no more price hikes this January. No price hike last week — the prediction was CORRECT!
Month: January 2004
I don’t like what I saw in the futures markets yesterday, and I also don’t like how slowly prices have been dropping around town. I think another price hike is coming today or tomorrow, to somewhere around $1.71. On Thursday, Speedway and friends raised the price to $1.73, but a lot of other stations only went up to $1.69. I guess Speedway was reaching a bit for a little extra profit. The prediction was CORRECT.
Thanks to the vigilant eyes of grandrapidsgasprices.com, there is enough evidence to conclude that Speedway and Marathon (same company) are usually the ones that raise prices first, so we now stipulate that Mr. Big works for them, and probably has an office here in Grand Rapids. As to gas prices this week, wholesale prices are the same as a week ago, so we could see prices reset back to $1.67 again, or they could drift down to the low $1.50’s. So, no prediction for now, but perhaps the situation will be clearer on Wednesday.
And wholesale prices are still climbing! So, there will be another price hike this week, to around $1.71. This can’t be good for the economy. And there was another price hike on Tuesday to $1.67, which is a little less than I thought so I am a little less than CORRECT.
Seems like the story lately is that investors and speculators would like to do anything except hold dollars. So, they buy stocks, gold, euros, and oil. Consequently, wholesale prices have been surging, and retail prices are soon to follow. Look for a price hike soon to at least $1.59 and probably higher. The prediction was CORRECT, as prices soared to $1.65 about 3 hours after I predicted it, so I don’t know how many people I helped.