Comment on last week’s prediction: We got the price hike, to $2.19 last Wednesday, and then another hike to $2.25 on Monday. Basically CORRECT.
Wednesday, January 31, 2007, 1:15 PM: Last Wednesday’s price hike to $2.19 brought out something we haven’t seen in a while: letters of complaint to the editor of the Grand Rapids Press. We had got down below $1.90 in some places, so, percentage-wise, it was quite a jump, but let’s keep in mind that we are much cheaper than six months ago. The two hikes of the past week pretty-much hit the pattern of jumping to the 20-cent margin price, although what has been tricky is that wholesale prices have been bouncing around a lot lately. This afternoon, the 20-cent price is about $2.22, and the 0-cent margin price is $2.04. As prices are mostly near $2.22, there won’t be another price hike this week, and I would buy gas at $2.09 or lower if I could, such as in Allendale.