Tuesday, December 23, 2008, 1:45 PM: Let’s review what has happened since the double-hike of December 11. First, in Standale, Meijer didn’t match the second hike to $1.75, so prices were back to $1.59 the next day. (Hooray for competition!) Since then, they have not changed very much and were $1.55 or so this morning. Everywhere else, prices have dropped, sometimes to the $1.50’s, sometimes still in the upper $1.60’s. I understand from GrandRapidsGasPrices.com that gas is $1.45 in Hudsonville today. Are they itching for a pre-Christmas hike on Wednesday?
Looking at NYMEX, prices are 20 cents a gallon cheaper than two weeks ago, including a big 8-cent drop yesterday. AXXIS seems to be running ahead of NYMEX by a several cents, which is surprising this time of year. Using NYMEX, there would be clearly no price hike this week. Using AXXIS, it is not so clear. So, I would fill up for $1.50 if I can and enjoy the holidays.