What happened to low prices in December?
2 comments Tuesday, 12-01-09 | Posted By Ed Aboufadel | Predictions
Comment on the November 16 prediction: Prices rose the next day to $2.65, so the prediction was CORRECT.
Tuesday, December 1, 2009, 3:00PM: My frequency of postings has dropped to twice a month this fall, so I will try to get back to the weekly postings that are my goal. What’s going on today? We had a hike on Friday to $2.59, except along Lake Michigan Drive, where prices were at $2.61, and remain there. It hurts that Citgo and Rich are closed. This afternoon, there are still a lot of $2.59′s, but gas is $2.40 in Lowell. After a drop in wholesale prices last week, those prices are climbing this week, and I forsee a hike to around $2.69 by the end of the week. That’s a prediction. What is troubling is that prices are usually the lowest of the year in December, so unless we get a big drop soon, we could be in trouble in February. — Ed Aboufadel
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I noticed something interesting in our neighborhood over the past week. Prices hovered in the $2.50s and $2.60s (all over the map), but a few stations dipped to $2.49 briefly, before Thanksgiving. One in particular (an Independfuel station) has had the price set at $2.45 to $2.47 for almost a week now. Without fail, the other stations around boosted their price over the Thanksgiving weekend, including a BP directly across the street from this one that was pawning gas at $2.63. Most others were probably averaging around $2.55. Today, most stations are at or just a hair above the Independfuel price ($2.45 to $2.49).
If a small station like Independfuel (what a name) could hold at $2.45 through all of this, my wary nature tells me some of these other dealers (or their suppliers?) were taking advantage of some profiteering during those few days…
Prices have been stuck at $2.59 through the holiday, with a couple rogue stations right in the middle of downtown at $2.45 through it all. They are right across from each other.
But they all jumped to $2.69 today.