We had our spike on Monday. The set price was $3.95, I think the same in Michigan. This means while Ed was off by five cents, he still gets a correct prediction.
Since then, the market for gas has been all over the place. It was down five cents on Tuesday, up four on Wednesday, and down a whopping 14 cents today. Today’s drop was due to a refiner aggressively selling off stock at a deep discount. This is good for us, as it gives stations room to fall going into the weekend.
So that’s my prediction, falling prices.
As a side note, something I mentioned yesterday on the Spike Line page. The Chicago RBOB price is 18 cents higher than the Chicago Spot (now CBOB). This does not bode well for Northwest Indiana, as they are required to use this reformulated blend due to their proximity to Chicago, and the EPA mandate for the area. They have been spiking 4-5 cents higher than the rest of Indiana. With this, they could spike 10-20 cents higher when the next spike comes. Just a fair warning.