Month: August 2018

Late Summer Snoozefest Continues

Comment on the August 6 prediction: Absolutely CORRECT, as prices rose on the 7th.

Saturday, August 18, 2018, 5PM: Since our last posting, oil prices have dropped about 5%, and so have wholesale gas prices, dropping our hike worry line about 10 cents. With prices in the $2.60’s in parts of Grand Rapids, that would put us in price hike territory. But, oddly, the stations that I track along Lake Michigan Drive are still above $2.90. In the end, I think we do see a reset this week, to $2.99, but it might not be until Thursday. -EA

Deja Vu All Over Again — heading back to $3.09

Comment on the July 22 prediction: Kind of CORRECT, as prices rose, but they went all the way to $3.09.

Monday, August 6, 2018, 9PM: A snoozefest lately in the energy markets, but the numbers look almost the same as they did before the last Michigan hike on July 24. Estimated price to retailers is about $2.88, while retail prices are lower, sometimes in the $2.70’s. That strongly suggests we are going back to $3.09 again, either Tuesday or Wednesday. -EA

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