Sunday, September 21, 2014: 2:00PM: My uncertainty on Wednesday was wise, as prices continue to drop — $3.10 a gallon in Lowell this afternoon! While ethanol prices continue to collapse, wholesale gasoline did spike up on Friday, so I am predicting a price re-set on Monday. Maybe $3.49. — Ed A.
Month: September 2014
Comment on the September 3 prediction: Prices rose as predicted, with $3.69 in Michigan, which is close enough for a CORRECT.
Wednesday, September 17, 2014, 9:00PM: We’ve had a nice two weeks of falling prices. Significant drops in the price of oil has been the biggest factor, but also of note is that ethanol prices have taken a real dive since Labor Day. Since ethanol only make up 10% of what is coming out of the pumps, that isn’t going to have a big effect on retail prices (based on my new on-going study), but it looks like it has taken a few cents off of the pump price. I estimate the cost-to-retailers tonight to be in the low $3.20’s, which is the retail price in Lowell and Wyoming. So, we have a good chance for a hike tomorrow, to $3.49. But I am not sure, though, because sometimes when we have falling prices like we have this month, the retail price will drop lower than expected first. So, since I am getting low on gas, I am going to fill up on Thursday, but for now — no firm prediction. –Ed A.
Yesterday, the market switched over to October prices, and as I have stated in the comments, they were much lower than September prices. Well, that lasted a day. The Chicago CBOB went from 2.7829
on Friday, to 2.6780 yesterday. Today it is at 2.8060. Ohio spiked recently, so should miss out on this one, but expect Indiana and Michigan to spike tomorrow up to $3.55-3.59 in Indiana and 4-10 cents higher in Michigan. -BE