If you haven’t been to our The Spike Line page here at the Gas Game, give it a look. I post there daily how the market is effecting your gas prices, and it also helps me determine whether a spike is coming.
You may also notice that the charts are a little bit old. That’s something I’ve neglected as of late due to having a child, and a job with odd hours (11am to 7:30pm). I barely have time to post that page (and Today In Oil).
So my resolution for next year is to clean up that page, as well as the other pages I post at the GasBuddy forums, and find a way to update the charts more frequently. If anyone has some suggestions on how to do this better (currently I use Open Office and have flirted with Google Docs, and use Photobucket to post the charts), please let me know.
With the market being below the Spike Line in Indiana, we could see a sneaky Saturday spike again this weekend. If you can find it in the lower $2.80s, or even upper $2.70s I’d top it off to be safe.
Comment on the Thursday, December 2 prediction: Prices rose to $3.05, but they waited until Saturday. That seems close enough to “3.09” and “shortly” to qualify as a CORRECT.
Sunday, December 12, 2010, 6:30PM: I noticed headlines in both USA Today and the GR Press worrying about gas over $3 a gallon at Christmas. This fall has not been following the historical script, with prices rising from August until December, rather than falling like they usually do. We all know the culprits now: the government (basically the Fed with the tacit approval of Congress) is printing dollars to prevent deflation and try to help the economy improve, and a lot of this money is finding its way into stock and futures markets, leading to S&P 1240, $90 a barrel for oil, and $3 gasoline. Since gas prices usually rise from January to August, are we in trouble for 2011? Maybe, but I’m not smart enough to know for sure. What I do know is that the 0-cent margin price is about $2.89, and we are down to $2.79 in Standale this evening, so I am predicting a price re-set on Monday or Tuesday to about $3.09. — Ed Aboufadel
Comment on the November 22 prediction: It was an easy one, as prices rose the next day. Then, after Thanksgiving, they fell again. Nevertheless, CORRECT.
Thursday, December 2, 2010, 9:30PM: I wasn’t ready for Tuesday’s price hike, but now I am concerned that we’ll see another hike shortly. Wholesale prices shot up 10 cents yesterday, as did the Dow. (See this chart.) We could see $3.09 again, like we did last month. Let’s call that a prediction. – Ed Aboufadel