Comment on the February 5 prediction: I predicted a Thursday hike, but we ended up with a rare Saturday hike, to $3.49. So, I was WRONG.
Thursday, February 20, 2014, 2:30PM: It has been a difficult game to play this month. We’ve had two rare Saturday hikes (Feb. 8 and 15) due to jumps in the wholesale market on Fridays, while competition in the retail sector has been knocking those hikes back down. Last night, I calculated a price to retailers in Michigan of about $3.40, but prices are all over the place this morning, with a low of $3.32 on Alpine Avenue. As I write this post, there are reports on GasBuddy of a hike to $3.65 at some Speedway’s in town, although the Speedway web site doesn’t show it to be the case. If that is correct, that’s a bit of reach compared to recent price hikes, and that price may not hold up very long.
So, fill up for $3.40 if you can, but I don’t have anything to predict. I do have a reading assignment though: Michigan drivers pay some of the highest taxes in the region on gasoline. -Ed A.