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