Comment on the March 6 prediction: CORRECT, as prices rose to $2.69. But, I didn’t get around on Friday to post a prediction on yesterday’s hike.
Sunday, March 18, 2018, 10:0AM: Here’s my story from yesterday. When I updated my spreadsheet on Thursday night, the numbers from Chicago were up “due to futures expiration and rollover”, but I thought the quote might have had a typo. I waited until Saturday morning to get the Friday quote, and I saw the jump in wholesale prices was not a typo, but since it was early Saturday, I figured we were set until Monday. In fact, I set a reminder to write a Gas Game prediction on Sunday morning. But, then $2.69’s started appearing on the Speedway site by 11AM on Saturday, and soon after, Gasbuddy sent out a notification via their app. Later in the day, I was driving through Lowell and saw that the old Admirals were still at $2.41, even though the rest of the stations were at $2.69, but I didn’t have time to stop and top off the tank. So, thanks, Big Red, for not waiting until Monday.
Looking back, since last July, oil has been slowly-but-surely moving up from $45 a barrel to $60, while the move in the gas has been more muted, from the $2.40’s when it spikes to $2.69. I think we’ve actually had a break on gas prices, given what has been happening in oil. I’m still wondering if $3 a gallon is to be expected this spring. -EA