Month: November 2016

Is it time to say “No Thanks” to a price hike?

Comment on the November 1 and 13 predictions:  We got a hike to $2.19, as predicted, so that was CORRECT.  Also CORRECT was part of my November 1 prediction, regarding the stock market.  Did you buy call options?  I forgot.

Tuesday, November 22, 2016, 8:00PM:  Post-election, oil and wholesale gasoline prices fell through Veterans Day, contrary to the stock market.  But last week, we started to see oil perk up, leading to last week’s price hike, but wholesale gas prices continue to rise.  Tonight, by my calculations, the 0-cent margin price is about the same as the retail price in Standale.  That usually triggers a hike, but will they give us a pass until Friday, due to the holiday?  Why gamble … fill up tomorrow morning!  And I’ll predict a hike either Wednesday or Friday. -EA

Big Ten Red States Leads to Red (Lower) Gas Prices

Comment on the November 1 prediction:  Turned out to be a CORRECT prediction, as prices rose on November 2-3.

Sunday, November 13, 2016, 8:00PM:  Yup, volatility.  Stocks rose sharply last week, first thinking Clinton was going to win, then after Trump won.  In the middle of that, on election night, stock futures prices crashed from 9PM until midnight.  By Friday, the Dow had hit an all-time high.  Meanwhile, wholesale gas prices (and gold) got clobbered, and we are seeing retail prices below $2 all over the place, with $1.85 in Lowell.  Will it last?  Probably not, as it looks like $1.85 is below cost for retailers right now, but those stations above $2.10 have move to drop on Monday.  Plan for the week:  keep filling up for under $2, but expect a reset before the week is out.  $2.19? -EA

 

Preparing for Blast Off

Comment on the October 17 prediction:  We saw a lame hike on Monday, October 24, so basically, I was WRONG.

Tuesday, November 1, 2016, 7:00PM:  I haven’t been posting much lately, because gas prices have been incredibly stable.  The stock market has been quiet, and the oil market, and when you get down to it, the median Clinton-Trump polling data.  I think this is all about the change.  Stocks are showing more volatility since Comey Friday, and there are signs of extreme fear in the stock market.  It reminds me of the month before the 2004 election, as the market worked through pre-election confusion for months and then took off the final 2+ months of the year.  I predict a similar track this year, with oil joining in, and hence higher gas prices.  Short-term, with retail prices near or below the 0-cent margin price, I’d fill up on Wednesday for $1.99 when you can find it (south of downtown near US-131 works), and prepare for a hike by the end of the week. -Ed A.

TheGasGame.com (c) 2017 Frontier Theme