Comment on the April 9 prediction and recent price action: We were CORRECT on April 9 about that hike, but my spreadsheet calculations have been out of alignment since then, and I missed both the April 20 and today’s hikes. WRONG and WRONG.
Wednesday, April 27, 2016, 3:00PM: $2.39 here in Grand Rapids, today — ouch! Sorry that I haven’t been able to help with predictions, but my calculations have been off. I spent time this afternoon reviewing my spreadsheet and revising calculations based on RBOB inputs, and it seems to backtest well. At least looking at the past few months. Now, why do prices keep going up? I think it is fair to say that wholesale oil and gas prices were artificially low this winter, and I still blame that on the blowup of Glencore. At this point, $2.99 this summer won’t surprise me. –Ed A.