Month: September 2013

Will Washington Hijinks Lead to Lower Gas Prices?

Sunday, September 29, 2013, 8:15PM:  Thank you for your patience as we update the web site.  After a hike on the 19th, wholesale and retail prices have drifted lower.  Using Friday’s closing prices, we aren’t even close to a price hike, and I suspect that the hijinks in Washington will lead to lower prices across the board this week.  So, the prediction is no price hike this week (subject to change, or course). –Ed Aboufadel

Awfully Quiet Out There

Comment on the August 27 prediction: Prices rose the next day to $3.75.? The prediction was CORRECT.

Monday, September 16, 2013, 7:15PM: I received an e-mail over the weekend asking why I haven’t posted lately. I’ve been busy with the beginning of the academic year at GVSU, but the real answer is that there has been no drama in gas prices — wholesale or retail. Wholesale prices have dropped 30 cents a gallon since the end of August, resuming a trend we have seen since the beginning of June. In fact, wholesale prices have dropped 75 cents since early June. Rather strange behavior for summer — perhaps all those “refinery problems” have finally been settled for a while. Based on today’s numbers, I estimate a price to retailers of about $3.40 a gallon. Retail prices are in the upper $3.40s, so we are getting close to price-hike time again, but it is hard to tell when. Just keep an eye on those price signs, because if a hike is in progress, you can probably find a station lagging behind in order to win The Gas Game. –Ed Aboufadel

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