Sunday, January 21, 2018, 2:00PM: This looks like a good week to play the Gas Game. Since prices rose to $2.79 on the 10th, they have been creeping lower in western Michigan, and a typical price right now is about $2.60. Meanwhile, wholesale prices have been moving slightly higher, although they dropped on Friday. That puts the 0-cent margin price at 12 cents in my calculations, and the past few months, 7 cents was the trigger for a hike. So, I predict a price reset this week (looks like $2.79 or higher), but it isn’t clear when. Probably not Monday, though. We will have to play the Game and be prepared to act if we see Big Red moving prices up.
In other news, I was in Lowell last night and saw the Admiral stations are now co-branded with Marathon. Seeing how Admiral has been a key player in bringing prices down after hikes, this is probably not good news for Gas Gamers. -EA
We’ve added a new function to the site — a forum to connect with other GasGamers and engage in on-going conversations on gas prices. You can see the button up on the right side of the menu bar on the main page. This forum is in addition to the commenting feature for individual posts (which we accidentally turned off for a few days — sorry!), and we hope to see you there! I just started a new thread. — Ed A.
Comment on the December 17, 2017 prediction: Yes, there was a reset to $2.65. Then, after Christmas, another one to $2.75. CORRECT on the first one.
Monday, January 1, 2018, 6:00PM: Happy New Year to our readers! Thanks for checking in with us regularly. For gas prices, short-term, since we just had a hike late last week, prices ought to do their slow slide until we get back into price-hike territory. As far as fearless 2018 predictions, I’m sensing more volatility than in 2017, when retail prices pretty much stayed in a 40-cent range once we got to mid-February. Oil prices, currently at $60, have room to head higher, in part related to some new inflation due to a strong U.S. economy beings stoked by new tax-cut stimuli, and that will send gas prices up. I think we’ll see prices over $3 a gallon sometime this year, maybe as soon as this month or February. Stay tuned! -EA