Comment on Thursday’s prediction: Prices fell below $2, so the prediction was CORRECT.
Tuesday, November 11, 2008, 5:15 PM: WZZM-13 stopped by my office yesterday, and the best I could say is that when I started the Gas Game, gas was below $1.50, and during the decade, it went up past $4. For the most part, my techniques to predict price hikes worked in that environment. The past two months, with gas prices falling more than 50% and with financial companies, the stock market, and the economy falling apart in the background, it isn’t clear anymore at what point Speedway and friends will be back to looking for opportunities to "re-set at a 20-cent margin", as opposed to, "how much should be drop the price today so that we get some business." It is easy right now to predict each Sunday that the Lions will lose. I am going to do the same with gas prices: predict no price hike this week. At some point, I will be wrong. (And at some point, the Lions will win.)