Comment on the January 14 prediction: Prices have been dropping since the start of the year, so CORRECT.
Saturday, January 23, 2016, 9:00AM: So much for “gas prices bottom out in December each year”, as things have been crazy this month, including a serious gas price war in Houghton Lake, and the price of oil plunging below $27 a barrel before recovering late in the week. It is difficult to explain what is going on: too much supply? hedge fund blow up? early signs of an election-year recession? But we are here to help you navigate retail gas prices, and here is the current outlook: wholesale prices continue to fall in tandem with the price of oil, and I estimate a price to retailers this week in the neighborhood of $1.50 a gallon. With a lot of $1.57’s around town this morning, we are getting close to price reset territory. So, my strategy would be to fill up Monday morning, and maybe again Tuesday morning, expecting a price hike this week. Of course, if wholesale prices start bouncing around again next week, all bets are off. — EA