Comment on last Tuesday’s prediction: So, in some places last Wednesday, prices rose to $2.09, but in other places, such as my benchmark stations along Lake Michigan Drive, they didn’t. The $2.09 didn’t last for long, either. So, I’m going to score my prediction 3/4 CORRECT, 1/4 WRONG.
Monday, November 17, 2008, 2:30 PM: You can buy a gallon of gas today in Sparta for $1.75 a gallon. It has been four years since that was possible. NYMEX prices have continued to drip lower with the stock market, so the easy prediction continues to be that prices will continue to go lower. However, my instincts say the financial markets — including NYMEX — are going to bounce here, so I’ll make the hard prediction and say we see a price hike before Friday, but it won’t be higher than $2.09, and it will probably be lower.