Comment on the May 6 prediction: CORRECT about the under-hike on May 8, but not prepared for $3.09 on May 14.
Sunday, May 20, 2018, 9:00PM: In the past year, gas prices have climbed from $2.40 to over $3 a gallon, following oil prices that have soared from $47 to $70 a barrel. Who’s profiting? Clearly oil producers such as OPEC, Russia, Texas, and North Dakota. And how about Valero Energy, an oil refiner and nationwide gasoline retailer, particularly in California and Texas. You could have bought a share of VLO for $62 a year ago. On Friday, the closing price was $120.56. Nice profit for shareholders! I wish I bought some shares, as I worried about $3 gas.
Well, what about the rest of May? Wholesale prices continue their climb this month, and I’m sure they’ll reset prices this coming week, maybe as soon as Monday. At least back to $3.09, and $3.19 is highly probable. -EA