Month: August 2014

Why I filled up tonight, and why I’ve been WRONG lately

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.

#TBT Tank Banquet Thursday

Comment on the August 5 prediction:  One of my WRONGest predictions ever, as a jump in wholesale prices yielded a hike on the 7th.

Wednesday, August 13, 2014, 6:30PM:  After last week’s price hike, wholesale prices bumped more, while retail prices did their typical slow drip lower.  Looking at tonight’s numbers, we are right in the price hike zone, so I am going to take my car out for a meal on Thursday morning.  Expected new price in Michigan:  $3.69.  –Ed A.

The only hikes expected will be at football practice

Comment on the July 26 posting:  Wasn’t really a prediction, and prices rose on July 29 and 30th to what I feared.

Tuesday, August 5, 2014, 3:30PM:  With financial markets showing weakness, energy prices are starting to slip, too, and we are in no danger of a price hike this week.  That’s a prediction.  But, for a little added value, here’s a recent interview with Gregg Laskoski of GasBuddy, giving a good explanation for the gas price action we see in the Midwest.  — Ed A.

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