Comment on the March 18 prediction: Prices are lower, but in some place not by much. $1.54 in Grand Haven last weekend!
Thursday, March 26, 2020, 8:00PM: I think when it comes to gas prices lately, we have to use garage sale economics. How many readers have had a Fri-Sat garage sale, and by noon Saturday, no one is stopping to see what you still have. At that point, you may be tempted to put out the “all items 25%” sign, but it doesn’t help, because there are no customers. So, you might be better off leaving the prices whole, just in case someone arrives to look. I suspect many gas retailers are doing the same thing. The stations I track on Lake Michigan Drive were stuck at $1.94 for almost a week, and today are on their second day of $1.85. But the evidence is that they have much fewer customers. No gas war, when wholesale prices are 50 cents cheaper? Garage sale economics may be why.
The easy prediction is still to expect lower prices. But how much lower? -EA