Comment on the August 20 prediction: Prices rose as predicted, to $3.69, a bit less than expected, but still CORRECT.
Tuesday, August 27, 2013, 8:45PM: Almost certain to see prices rise on Wednesday. The key driver is the new tension with Syria, which has sent wholesale oil and gas prices up. That it is the end of August, when prices often see their high for the year, isn’t helping. I’m estimating a price to retailers of $3.65, and with retail prices as low as $3.50 in town, we could see $3.85 tomorrow. –Ed Aboufadel
Comment on the August 11 prediction: We had a hike on August 13 to $3.65, so the prediction was pretty much CORRECT.
Tuesday, August 20, 2013, 8:00PM: Looks like Bill was a bit early with the spike prediction, but I see one coming Wednesday or Thursday. It seems that wholesale prices have been flat, but retail prices have drifted down to a level below the cost to dealers. That usually means it is price hike time. $3.75? — Ed Aboufadel
I will not be able to update the Spike Line next week. Next Sunday, I will update the Today In Oil page with all proper numbers.
With the way pump prices are going (down slow but steady as usual) and market prices are going (stagnant/up slightly) we are ripe for a spike at the beginning of next week. Keep an eye on the comments of this post (or Ed’s post if he makes one after this) as I am hoping a few of the regulars that have access to market info will try to keep everyone up to date on things.
Comment on the July 29 prediction: As predicted, prices rose that Tuesday to $3.79. CORRECT!
Sunday, August 11, 2013, 7:15PM: Prices have fallen nicely since the last hike, with gas as low as $3.31 in Sparta today. Wholesale have dropped some since the hike, but not a lot, so Big Red and friends have a scratch to itch, either Monday or Tuesday. Expecting a new price near or at $3.69. –Ed Aboufadel