Comment on the August 13 prediction: Nope. No hike, so the prediction was WRONG.
Tuesday, August 19, 2014, 9:00PM: OK, I have been Mr. WRONG the past two months. What’s going on? Let me at least walk you through the last two predictions. On August 5, the “Chicago CBOB spot price” that I find on the Internet was $2.61, which translated to a price to retailers of $3.29. Since the retail price in Standale was $3.43, I thought we were safe. But then next day, the spot price rose 10 cents, and then another 9 cents the next day. Ta da, price hike on August 7. On August 13, CBOB was $2.77, which means a price to retailers of $3.45, which was the retail price in Standale. Sounds like the recipe for a price hike. But, the next day, CBOB dropped 9 cents, and then another 12 cents over the next few days. Ta da, no hike. And that brings us to today. CBOB jumped 6 cents today, and the price to retailers equals the retail price in Standale. If filled up tonight, and I’ll risk further public ridicule and predict a price hike for Wednesday. $3.55? –Ed A.