Say “No” to $2.35 a gallon

Comment on Tuesday’s prediction:   I was seriously WRONG, as prices shot up to $2.35 on Thursday.

Friday, November 3, 11:15 AM:  You are only as good as your mathematical model, and the hike to $2.35 yesterday did not fit my model at all.  Either my estimate of the wholesale price is way off all of a sudden, Speedway and friends are trying to improve their margins, or someone made a mistake at Speedway’s main offices.  I think either the second or third theory is correct, so I am predicting prices to fall quickly over the weekend.  Already on Michigan Avenue, prices are back to $2.19, and you’ll see the same elsewhere.  Expect stations like Family Fare, Citgo, and Admiral to lead the charge.  The 0-cent margin price this morning is just below $2, so dropping back below $2.20 is very possible.

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