Comment on the May 8 prediction: Prices rose, but not until Wednesday, May 11, so the prediction was not helpful. WRONG.
Wednesday, May 25, 2016, 8:15PM: This has been a hard game to play this spring, and this week is another example. On Monday, retail prices soared in Michigan to $2.59 (matched today in Fort Wayne), and I thought, “Oh, it is one of those Fat Fingered Greed Grab“. But that same day, Michigan Governor Snyder declared an “energy emergency” in Michigan, due to “temporary shortages and shipment delays” of gasoline. One reason: we are in transition week to “summer gasoline”, blended to help reduce air pollution (good!), but this time of year becomes a logistical nightmare for gasoline (bad!). But with recent hikes and the return of some helpful data, I think the transition of my spreadsheet to something useful again is complete.
So, price hike tomorrow before the holiday weekend? I concur with this tweet from @onetoughnerd: “At this time, I do not see further #gasprice increases coming. Market is elevated but stable.” –Ed A.