Comment on the February 8 prediction: There was no price hike that week, so the prediction was CORRECT.
Thursday, February 25, 2010, 12:45PM: I have been terribly busy the past two weeks, including a long weekend in San Diego for a conference. Thanks, Bill, for the great warnings you’ve been sending out.
We’ve had two price hikes to deal with in the past week, bringing us up to $2.69. What is next for gas prices? As I posted on February 8, historically we’ve seen prices rise in February and March, and this month has been no different. NYMEX futures for April, which are closely correlated to March retail prices, have been running a dime ahead of the March futures, and that suggests that price hikes will continue over the next few weeks. That’s not a prediction about the next few days, but I’m going to be on “expect a hike” alert the next five weeks.