Comment on the August 31 prediction: Prices rose that day to $3.85, as predicted. CORRECT.
Thursday, September 8, 2011, 12:20PM: Future prices have been bouncing all over the place the past few weeks, and yesterday they bounced up, so today we get a price hike to $3.89. Boo! Hiss! Something I saw on CNBC recently did get me thinking — in April 2008, gas was also $3.89 a gallon, and oil was $118 a barrel. Today, gas is also $3.89 a gallon, but oil is a bit below $90 a barrel. So, oil is 25% cheaper than 3+ years ago, but gasoline is the same price. What’s up with that? From what I read, it seems that gas prices were, believe it or not, lower than they should have been in 2008, or maybe oil prices were artificially high. (Thank you, speculators!) Well, whatever the case, if I can sound like a politician for a moment, “We need to do something about these job-killing price hikes!”