Tuesday, May 13, 2003

As you can see above, I am tinkering with my formula, which includes changing the wholesale price estimate, adding in the extra money for the reformulated gas required in the Chicago region, and adding in some miscellaneous charges that were brought to my attention the past year. Given all that, with a 20-cent margin, the expected gas price is $1.60. Currently, prices in town range are all in the $1.40’s, setting up for a price hike today, tomorrow, or Thursday. That’s my prediction, but I’m not sufficiently comfortable with the new formula yet. On Thursday, prices rose to $1.58 around Grand Rapids, which is close enough to $1.60 for me to say CORRECT! If I continue to be 2 cents off as the summer gets rolling, I’ll adjust my formula.