Gas Prices: It’s Quiet (Maybe Too Quiet)

Comment on the November 25 prediction:  It was CORRECT, as prices dropped until December 5. We fell below $3 in some places.

Sunday, December 15, 2013, 8:00AM:  Wholesale prices have held steady since the last price hike on December 5, but retail prices haven’t fallen much, either, so the risk of a price hike is small at the moment.  It may look different on Thursday morning.  Looks like $3 even is the floor right now.  Another thing to consider is that December is typically the month of the year when gas prices are the lowest, so it is hard to predict that gas work its way down below $3 in the next few months. — Ed Aboufadel

p.s.  After posting this, I see prices are at $3 on Alpine, so we may be closer to a price hike than I first thought.

 

Updated: December 15, 2013 — 7:57 am

8 Comments

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  1. I was totally expecting last Thur. So, topping off tonite to be safe.

    we hit the low 280’s in Flint. Unfortunately, 2010 called- they want their prices back.

  2. Don’t think has been below $3 in South Bend all year. Made it down to $3.06 a few weeks ago. One is at $3.08 today and a few at $3.09.

  3. Topped off at $3.02 on the way in this morning. Cheapest on my route. Had a hunch, whenever we get near $3, time for a Speedway spike.

  4. One Speedway in Waterford at $2,99 on Monday morning.

  5. Down as low as $2.859 in Indy, including $2.899 at a Speedway.

    The market average is $3.116.

  6. $2.81 @ Cedar Springs Meijer last night with Meijer Visa card. Today you can get it there for $2.79. Big drop – usually means a hike is imminent, but I hope it waits!!

  7. my mental benchmark, for whatever reason is 260, which was considered high in early 2k6. I paid 2.74 with no special discounts today, mental bet is maybe 269 tomorrow am before a spike. Or not. This might roll thru til monday when the spike returns things to the 3.00ish level as a platform for a second spike to the 3.40’s

    Just speculating of course. The harmless kind.

  8. Spot prices jumped 6&cent today. Must have been in response to BP announcing the completion of their refinery upgrade in Whiting,IN and increased capacity. lol Might be enough to trigger a hike in some markets tomorrow especially if your local average is already down a quarter or more since after the last spike. Ed & Bill are the experts in markets outside of Chicago though.

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