Month: September 2012

Expecting a Price Reset

Comment on the September 6 prediction:  Prices did not rise until September 10, so the prediction was WRONG, or, to be kind, EARLY.  Prices have drifted down since the 10th.

Saturday, September 22, 2012, 8:45PM:  Gas prices peaked at $4.09 in Grand Rapids on September 10, and have fallen slowly but steadily since then. Oil has had its up-and-downs this month, and jumps in the wholesale price of gas at the end of this past week has put us into a price-hike zone.  I calculate that gas stations are paying $3.96 a gallon this weekend, while prices are in the $3.80’s, so we should get a price reset on Monday or Tuesday.  It shouldn’t be any worse than the $4.09 from two weeks ago. –Ed Aboufadel

Dow Soars 244 Points Today — Buy Gas Tomorrow!

Comment on the August 27 prediction:  Prices rose the next day, as predicted, to $4.09.  CORRECT.

Thursday, September 6, 2012, 7:30PM:  The pipeline/refinery/hurricane issues that made traders jumpy and caused prices to jump to $4.09 at the end of August appear to be resolved for now.  Our new problem — a summer stock market rally — which drags wholesale energy prices higher.  Tonight, retailers are paying $3.96 for gasoline, and they usually will let it drop 10 cents below their price before Big Red initiates a price hike.  With $3.86’s in Standale, we’re all set for a hike tomorrow.  Not sure if they’ll settle for $3.99 or go over $4 again.  -Ed Aboufadel

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