Month: July 2013

I’m not going to tell you twice — fill up Tuesday morning

Comment on the July 22 prediction:  My prediction that prices would keep falling, was CORRECT.

Monday, July 29, 2013, 9:00PM:  Retail prices have been going down, down, down, but wholesale prices are steady, and we’ve reached the point where they are going to push the Big Red price re-set button.  Expecting a hike on Tuesday, with a new price in the neighborhood of $3.79. –Ed Aboufadel

Spike alert for tomorrow

I’ve been seeing slowly falling pump prices and slowly rising market prices all week. They are making it highly likely that a spike will happen tomorrow, with the Spike Line numbers being near -10 cents. I expect it will be back up near $3.80-3.89.

For once, a prediction of falling prices

Comment on the July 10 prediction:  As predicted, prices rose to $3.85 on July 11.  CORRECT!

Monday, July 22, 2013, 7:30PM:  Looking at NYMEX and elsewhere, wholesale prices appear to be in a new downturn, so retail prices should follow in Michigan.  They already are falling in Fort Wayne, with prices like $3.59.  So, for once my prediction is no price hike this week, and steadily falling prices.  — Ed Aboufadel

Another hike coming?

Comment on the July 7 prediction:  Right as rain, as prices rose in GR to $3.69.  CORRECT.

Wednesday, July 10, 2013, 9:00PM:  Just updated my spreadsheet.  Oil up to $106.52 a barrel.  It was $94 two weeks ago.  NYMEX gas bubbling up in reaction — 26 cents more than July 1.  Even though we had one price hike this week, I wouldn’t be surprised to see another one in the next 36 hours, with a new price in the $3.79-$3.89 range.  That’s a prediction. –Ed Aboufadel

Price Hike in the Oven, Timer is Counting Down

Comment on the July 1 prediction:  One of my better ones, as prices rose just as predicted.  CORRECT!

Sunday, July 7, 2013, 10:30AM:  On Tuesday, the “spot price” for the Chicago area was about $2.64, which corresponded to a price to retailers of $3.33, after all taxes and other costs are factored in.  We saw a hike that day to $3.59.  Since Tuesday, the spot price has risen to about $2.79, leading to a price to retailers of $3.48.  With prices in the Grand Rapids area at about $3.48, that is a recipe for a price hike on Monday or Tuesday.  Prediction for new price:  $3.69-$3.74. –Ed Aboufadel

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