Boss: Price Re-Set tomorrow. Flunky: Oops, I sent out the e-mail today.
5 comments Wednesday, 12-26-12 | Posted By Ed Aboufadel | Commentary, Predictions
Comment on the December 14 prediction: It was possible to get gas under $3 in the region, but difficult to find that price in Grand Rapids. But prices did keep falling until December 20, so I am going to rate that last prediction 1/2 CORRECT, 1/2 WRONG.
Wednesday, December 26, 2012, 8:15PM: I can’t take some time off Christmas week without something weird happening. In this case, we have a slow-motion hike today to $3.39, which seemed to anticipate where wholesale prices ended up today. But we didn’t get much of spike in wholesale prices, nor have we seen a significant drop in retail prices, so this seemed like a “The Speedway kids didn’t get what they wanted for Christmas, so the big red button got pushed Wednesday morning” sort of hike. Or, it was a “let’s do a price re-set on Thursday but someone who drank too much eggnog sent out the e-mail a day early” sort a hike.
I expect this will be my final posting for 2012. Thank you all for reading this blog, and Happy New Year! — Ed Aboufadel
Thanks for your attention & insights… 2013 will likely be just as screwy, so we’re all glad youre on the job…. I did fill up before the 3.39 bounce & look forward trying to stay one step ahead in the year to come.
I was able to fill up premium for $3.27.
My guess is just taking advantage of residual holiday travelers.
Cheers Ed, thanks for the work.
Happy new year to you as well Ed and Bill, and thanks for the hard work. Touching on yesterday’s price hike a bit, there have already been some retreats… with a couple $3.25s showing up in the Lansing area (a couple stations never really went up in the first place).
Happy New Year to all! Well the fiscal cliff has been avoided and of course stocks along with crude oil are taking off today because of it. There’s an excuse for everything right? Greedway actually lowered their prices before surrounding stations did, surprisingly to $3.15 in Indiana. With all these congressional doings, I sense a big gas spike in the works with our friends at Greedway leading the pack. I suspect that $3.15 will become either $3.39 or $3.49 over the next 3 to 5 days.
Hopefully we don’t follow last year’s path straight up to near $4 bucks a gallon before spring even starts.
Spot down 11 cents @ $2.35 right now. Surprising considering oil is up today on CONgress kicking the can again(haven’t we run out of road yet?).
Unless it reverses, I don’t see a spike this week. Of course, I have been wrong before.