Sunday, July 29, 2012, 3:00PM: Just got back with the family from the Cheboygan area. No gas wars there — prices were the same $3.59 everywhere at the beginning of the week, and the same $3.65 at the end, after the mid-week re-set. Now, what is going on this coming week? Stocks soared on Thursday and Friday, so energy prices went up, too. Combine that with reports of refinery troubles here in the Midwest, and we’ve got a raw wholesale price of $2.90 or so today, leading to a cost to retailers of about $3.60. In Kentwood, with prices at $3.37, it is hard to see them going any lower. A lot of places are $3.59, though. So, my advice is to buy gas in Kentwood, and expect a new price in the $3.69-$3.79 area on Monday or Tuesday, due to this “supply squeeze”.
p.s. I have started a new blog for some thoughts on politics, sports, and the stock market. One of my first posts regards replacing the All-Star Game with something else. -Ed