Connect the dots … problems in the Alaska pipeline all over the news this morning, which instantaneously makes all gasoline sitting around about 10% more valuable (right?), at least if you listen to the media, such as WOOD-1300 AM, who are (hysterically?) warning listeners this morning to fill up, which is contributing to those lines at the gas stations you’re seeing this morning. OK, yes, I filled up, too, for $3.08 in Allendale, because we know that Speedway and friends have a tendency to raise prices first and ask questions later. But did you know that the Illinois-Wisconsin-Michigan axis already has practically the most expensive gas in the 48 states this morning (it looks like only some parts of California and Connecticut are in worse shape)? And if we get some frightening spike to, say, $3.49 a gallon, how will Gov. Granholm, whose “Gas Gougers” advertisement hit the airwaves this weekend, respond?
I repeat what I posted on July 26, “August will probably be a price hike disaster”. There was an implicit prediction of a price hike in this posting, which did not occur, so I am going to give myself a WRONG.