Month: September 2016

Nothing Burger

Comment on the September 19 prediction:  Mostly WRONG, as prices stayed low until late Sunday, when we got a surprise, slow-motion hike to $2.29.

Tuesday, September 27, 2016, 10:30PM:  In case you are wondering, I do try to play the Gas Game with integrity.  When, a week ago Monday, I predicted a mild hike was coming, I filled up the tank, and then watched prices continue to drip lower.  And, when I received the Gas Buddy alert Sunday afternoon about a surprise hike to $2.29, I filled up for $2.03.  That being said, our Big Red friends have been eating nothing-burgers since July, with mild hikes keeping us roughly in a $2.00-$2.39 range.  Oil prices have been stable, too.  So, now that the hike is done, why should we expect anything but lower prices for the rest of the week? –Ed A.

Colonial Pipeline Yawn

Comment on the September 8 prediction:  The hike didn’t occur until the 12th, to just $2.29, so call it WRONG.

Monday, September 19, 2016, 9:00PM:  You have probably heard about the Colonial Pipeline break in the South, leading to big hikes in states like Tennessee in the past week.  Here in the Great Lakes states, though, the effect has been mild.  In fact, my estimated price-to-retailers has been pretty flat all month, and retail prices have been steady, too.  As prices drop towards $2, margins are getting squeezed, and I expect we will see a re-set this week.  But there is no sign right now that it will be anything dramatic. — Ed A.

$2.39 again and again and again

Thursday, September 8, 2016, 8:00PM:  I saw this tweet this afternoon from TGG friend Patrick, and now that I have completed updating my spreadsheet this evening, I think he’s right.  We had a jump in wholesale prices today, bringing retailer margins to about 0 cents, by my calculations.  So, we are set up for a price hike on Friday, probably back to our default price this summer:  $2.39.  –Ed A.

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