Comment on the July 16 prediction: No price hikes, so CORRECT.
Wednesday, July 22, 2015, 6:00PM: So what do we do here? Since the last price reset on July 1, wholesale prices have fallen more than 20 cents a gallon, while retail prices … well … it depends. Gas is selling for $2.69 a gallon at Wealthy and Division in downtown Grand Rapids. A few miles away, in Wyoming (MI), $2.12 — that’s a difference of 57 cents! It is $2.57 on Lake Michigan Drive, but the stations I watch in Fort Wayne have been stuck in the mid $2.30’s for three days, while my estimate of the price to retailers is $2.41. So, for some stations, we are far enough above the price to retailers that there shouldn’t be a hike. For others, they are selling at such a loss that I don’t know how they stay in business. I wouldn’t be surprised if Speedway reset the whole system to $2.59 on Thursday. -EA