Comment on the August 14 prediction: Yup, $2.39 on Monday, just as predicted. CORRECT.
Sunday, August 24, 2016, 12:00PM: These lower gas prices in 2016 have been nice! According to this article, we’ve been using the extra money to grow their savings accounts and to go out to eat more. But I wonder if we are now on a path back to $3 gas. Since dropping to $40 a barrel at the beginning of August, oil prices have climbed to near $50. That would be a 25% jump in a month if we get there this week. Retail gas prices are being dragged along. We were down to $1.79 in Indiana at the beginning of the month, now at $2.29. Here in Michigan, although retail prices haven’t dropped much since the hike a week ago, wholesale prices have gone up, and I think we are looking at another re-set this week, to $2.49 a gallon. –Ed A.