Month: May 2013

Not going to complain about retailers keeping it until $4 in Michigan

Comment on the May 13 prediction:  Michigan got a reprieve two weeks ago, although Minnesota didn’t.  But I was WRONG.

Wednesday, May 29, 2013, 11:30AM:  Things have been rather screwy lately.  Speedway-led price hikes have been more localized to certain states or regions, which led to relatively cheap gas in Ohio two weeks ago, and crazy-high prices in Minnesota.  Here in Michigan, prices re-set to $3.99 on May 20, which by my calculations was the same price retailers were paying, so in some ways, we were getting a bargain.  Then, while Chicago spot prices rose last week, and prices in Standale were $3.97, suddenly they were $3.79 and stayed that way all weekend.  Yesterday, another re-set to $3.99, but many stations in Grand Rapids decided not to play, and you can get gas for $3.79 in Wyoming today.  Why not follow with the hike?  Because wholesale prices dropped hard on Tuesday.

By my calculation, retailers are paying $3.79 today for gas, so $3.79-$3.99 would be the retail range right now, and that’s what we have.  But it is hard to predict right now what to expect the next several days. — Ed Aboufadel

You say Tuesday, so I’ll say Thursday

Comment on the April 18 prediction:  As predicted, prices rose, but only to $3.79 on April 19, and then $3.89 a few days later.  Call it CORRECT!  I haven’t posted since then, but Bill has been keeping up.

Wednesday, May 8, 2013:  From what I can tell, wholesale prices have been keeping pretty steady the past few weeks.  Bill suspected a spike on Monday or Tuesday, but those with long memories know that Thursday is historically the favorite day for Big Red and Friends.  I am anticipating a hike back to $3.89 on Thursday, and I will fill up tomorrow morning. — Ed A.

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