Monday, November 9, 2015, 8:00PM: After years of talk, the Michigan Legislature and Governor surprised me last week and passed a road repairs funding bill. The new law (to be signed tomorrow) includes a jump in the gas tax at the end of 2016, and we’ll worry about that when we get there. I gave my take on all this back in April, with the bottom line being that Michigan isn’t collecting as much in fuel taxes to fix our roads, and Michigan isn’t getting the money from Washington to fix our roads like other states are. For that last point, I wonder what Michigan’s congressmen are doing in Washington?
Back to our short-term Gas Game: wholesale prices dropped significantly last week, and retail prices are slowly working their way lower. In Fort Wayne, prices are already close to $2, and in Texas, they had a gas price war this weekend. Prediction: lower prices all week. -EA