Comment on the June 30 prediction: Pretty much CORRECT. Prices rose as predicted, but to $2.99
Wednesday, July 8, 2015, 7:30AM: Recent wholesale/retail price action has been a gift to the cynics. Last week Tuesday, we got a suspicious wholesale hike that led to a price re-set last Wednesday to $2.99, just in time for Independence Day weekend. Then, while the ink on the hike wasn’t even dry, wholesale prices started falling. Then we get Monday’s big drop in oil prices, which has led to a big drop in wholesale gas prices, but retail prices aren’t in a hurry to head down. So, that brings us here: I estimate the price-to-retailers this morning to be $2.58, and in Lowell, which is usually the price-loss leader, you can buy gas at the moment for $2.72. We are still in the $2.80’s in many places. So, unless we get another whipsaw in the wholesale market, I predict we are going to see prices in the $2.60’s around town in the next two days. You might want to wait to fill up. — Ed A.