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