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