Month: June 2014

Expect Gas Price Fireworks This Week

Comment on the June 13 prediction:  Yup, prices went back up to $3.99, as predicted.  CORRECT.

Sunday, June 22, 2014, 8:45PM:  The stocks/gasoline connection has been weaker for a while now.  They used to move in tandem.  Lately, we’ve seen the Dow and SP hit new all-time highs, but gas prices here in Michigan remain (barely) under $4.  (All time high for gas in MI, according to my records: $4.29.)  But the recent rally in stocks may have something to do with keeping wholesale gas prices (e.g. NYMEX) at about $3 and the price to retailers at about $3.70.  With retail prices getting close to $3.70, I predict we are back to $3.99 soon, probably Tuesday, although it could happen Monday or Wednesday.  All in time for the holiday weekend coming up! –Ed A.

Fill up this morning as we face the $4 hurdle

Comment on the June 4 prediction:  Prices rose as predicted to $3.99, some on Thursday last week, some on Friday.  CORRECT.

Friday, June 13, 7:30AM:  Just getting around to updating my spreadsheet, it looks like we have a price hike coming today or Saturday, thanks to civil turmoil in Iraq.  Wholesale gas prices jumped at least 8 cents a gallon yesterday, and the only question is whether we break $4 or not.  If we do, I can’t see it being any higher than $4.09, but the retailers might reset just to $3.99 again, because it looks better.  Fill up this morning, like I did. — Ed A.

Round Trip

Comment on the May 28 posting:  I really can’t give myself a grade on this one, since the hike already happened in Indiana.  Only up to $3.95 in Michigan, though.

Wednesday, June 4, 2014, 6:50PM:  Since last week’s hike, wholesale prices have remained where they are, while retail prices have drifted into the $3.70’s.  With retail margins heading back to nothing, we are set up for a hike back to $3.99 on Thursday or Friday.  Not sure what happens after that. — Ed A. (c) 2017 Frontier Theme