Month: May 2015

You Might Want To Fill Up This Afternoon

Comment on the May 17 prediction.  CORRECT as predicted, as prices rose to $2.79.

Friday, May 29, 2:30PM:  Oil prices are jumping today, so wholesale gas prices are following.  We were getting close to price hike territory already, so I suggest you fill up this afternoon, as a not-as-unusual-as-it-used-to-be Saturday hike is probably in the cards.  Not sure what the new price will be, other than $Higher. — Ed A.

Might As Well Jump … Might As Well Jump

Sunday, May 17, 2015, 8:00PM:  Chicago CBOB found its way up to practically $2 a gallon on Friday, leading to a price-to-retailers of $2.63, according to my calculations.  With west Michigan retail prices in the $2.51-$2.69 range right now, and with the hike in Indiana to $2.75 this past Thursday, might as well fill up on Monday morning, because you can see a price hike is coming this week.  $2.79 or higher?

Are we slogging back to $3 a gallon?

Comment on the April 27 prediction:  They waited until Thursday to give us the hike, and just to $2.59, so I will score this 1/2 CORRECT, 1/2 WRONG.

Wednesday, May 13, 2015, 3:00PM:  Whoa — where did that hike to $2.69 come from yesterday?  While we were getting close to price-hike territory, it didn’t look to me like we were that close.  Best I can tell is that there was a jump in wholesale prices yesterday during the day, and our Red friends were more anxious than usual about it.  In the bigger picture, oil prices have been continuing their slow-but-sure recovery from last year’s crash, and gas prices have been dragged along.  So, we may be heading to $3 by summertime.  That’s not a formal prediction, though.

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