Month: May 2010

A price hike before Memorial Day Weekend is quite plausible

Comment on the May 19 prediction: It was CORRECT, as prices continued to fall. Lowest as of the moment is $2.52 in Lowell, which is pretty close to the $2.49 floor in the prediction.

Thursday, May 27, 2010, 3:00PM: With Memorial Day weekend almost here, will the retailers raise prices on Friday? If my calculations are correct, the 0-cent margin price is around $2.50, and a price hike would be in the neighborhood of $2.69. That’s quite plausible, given that prices are in the $2.52-$2.72 range now. So, I would fill up tonight, just to be safe, and, just for the heck of it, let’s make it a prediction: price hike on Friday. — Ed Aboufadel

Simple prediction: lower prices!

Comment on the May 11 prediction: Prices have been falling below $2.80 in many places, so the prediction was CORRECT.

Wednesday, May 19, 2010, 12:40PM: Since the price hike a few weeks ago to $2.99, wholesale prices have fallen 44 cents a gallon! (Oh, and look at the S&P 500 dropping from 1220 to 1110.) Currently, retail gas prices range from $2.62 in Sparta to above $2.80’s in Standale and elsewhere. This is simple: there is a lot of room for prices to fall further, like to $2.49, in the next several days, unless we get a dramatic recovery in the stock and energy markets the rest of the week. — Ed Aboufadel

Falling prices this week

Comment on the April 25 prediction: Technically WRONG, since prices didn’t rise until Tuesday, and then only to $2.99.

Tuesday, May 11, 2010, 7:30AM: Lots of weirdness on Wall Street lately, and one nice consequence for drivers is that energy prices fell 10% last week, including a 25-cent drop in wholesale gas prices. That drop is working its way to retail prices, slowly in some places ($2.96 on Lake Michigan Drive), more quickly in other places ($2.77 on 44th Street in Kentwood). I don’t see any price hike on the horizon, and you should pay less than $2.80 for your next fill-up. — Ed Aboufadel (c) 2017 Frontier Theme