Comment on the July 18 prediction: On July 19, prices rose (for the most part) to $3.79, as predicted. While that prediction was CORRECT, it didn’t stick in some places, and prices were in the $3.50’s in areas of Grand Rapids the next day. On Friday, you could buy gas for $3.41 in Lansing.
Monday, July 25, 2011, 8:45PM: President Obama will speak in a few minutes about the debt ceiling mess in Washington. Speaker Boehner will follow. Will any of what they say affect gas prices in the next few days? I don’t know. We are in a situation where stock, metals, and energy markets could go berserk either up or down, depending on what Congress does this week. Or not. What I do know is that we have the exact set up that we had a week ago: wholesale prices around $3 a gallon, 0-cent margin price around $3.59, most prices near or below $3.59, so a hike back to $3.79 would be the obvious prediction. I’ll make that prediction and I recommend filling up Tuesday morning before the hike, but, you know, the next three weeks could be really crazy when it comes to gas prices. Or not. –Ed Aboufadel.