Month: June 2018

The Return of OPEC

Comment on the June 12 prediction: It rhymes with DIRECT, yes we were CORRECT, as prices rose again to $3.09 on the 14th.

Sunday, June 24, 2018, Noon: For more than a generation, we’ve been dealing with OPEC decisions and statements. Some are like a mild breeze and don’t have any effect. Others, though, spark movement in the energy markets, and Friday was an example of this. Oil prices rose by more than $3 on Friday, and wholesale gas prices started to be pulled along, up five cents in one day. Combine that with prices falling below $2.89, and we are back in price hike territory, perhaps as soon as Monday. Looks like something like $3.09 again — fill up! -EA

Garden Variety Hike for Flag Day

Comment on the June 3 prediction: CORRECT as written, as prices rose to $3.09.

Tuesday, June 12, 2018, 7:30PM: Wholesale prices have been pretty steady since the last hike, but retail prices have given up the reset and we are almost back in price hike territory, with prices $2.85 and below in several places in the area. Expect to see somewhere between $3.05 and $3.09 the next two days. -EA

From $3.19 to $2.71 to ???

Comment on the May 20 prediction: $3.19 on May 22, as predicted. No hikes since then.

Sunday, June 3, 2018, 6:00PM: Oil prices recently maxed out on May 21, leading to a hike to $3.19 the next day. Since then, for a variety of factors, oil has dropped 8% helping gas prices to fall to as low as $2.71 in Sparta. We’ve seen this before, as an on-going drop in wholesale prices leads to retailers aggressively cutting what they are asking for a gallon, keeping their margins razor-thin. As a result, any rise in wholesale prices triggers a price hike. That’s due to occur this week, and with it, a reset back to … $3.09? -EA

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