Hello, $3.29! Also, May 2007 statistics!
Monday 04 Jun 2007 | Posted By Patrick | Predictions
As predicted, Grand Rapids prices have dropped south of $3.30 and into the $3.20’s. I’d look for prices to drop to around $3.25 before we see a possible hike.
Any hike likely would be to $3.39 or so, but I’m not 100% sure on when that hike would come. We’re definitely slowing down when it comes to price drops, but I don’t think we’ve seen the bottom yet. My benchmark station in Indiana dropped a penny overnight to $3.23. Look for Grand Rapids to *possibly* get as low as $3.19 or $3.25 before a re-hike, but be careful! A hike could happen soon.
Also wanted to share some statistics from May 2007! TheGasGame.com authors posted 39 times in May, which averages out to more than one informative post per day. We saw prices rise from about $2.99 to $3.65, an unprecedented 66 cents in just three weeks.
TheGasGame.com had 128,479 “hits” with approximately 4,367 visitors that visited 10,195 times, and looked at 48,380 pages. May 17 was the busiest day with nearly 700 visits and nearly 9000 hits. May was about 3 times as busy as April, 7 times as busy as March, and 8 times as busy as January.
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We had our rack prices drop 7 cents on Monday night and another 12 cents for Tuesday night. They are now only 24 cents above the futures market instead of 40+. Today’s cost is about $2.99, so retail prices should continue to drop. Most station’s have 3-5 days worth of inventory in the ground, so a lot of them have an extra 20+ cents worth of cost.
Unless, we start getting increases, everyone should be well below $3.20 by Monday. I’m shure there will be towns that go much lower than that, I wouldn’t be surprised to see some people go overboard and drop to $2.999.