Look for prices below $2.69 soon

Comment on the August 2 prediction: Prices rose to $2.85 in the Grand Rapids area on the 3rd, so the prediction was CORRECT.

Thursday, August 12, 2010, 10:00 AM: Our story so far this week: On Tuesday, the Federal Reserve made a decision about buying treasury bonds, which signaled to investors that the economy is not doing as well as they had hoped. (And it was no surprise to businesses who are having trouble getting loans from frightened banks, or the unemployed.) The stock market proceeded to shed 400 points between Tuesday, Wednesday, and Thursday so far, and, of course, energy prices followed. Wholesale gas prices have dropped 18 cents in the past week, putting the 20-cent margin price at about $2.73. With retail prices in the $2.69-$2.85 range right now, we are set up for some nice price drops over the next few days, where there is competition in the neighborhood. Best place to buy gas will probably be Lowell. — Ed Aboufadel

Updated: August 12, 2010 — 10:09 am

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