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