Comment on the August 11 prediction: Almost CORRECT, as prices rose on August 12, but higher than I had predicted.
Sunday, August 18, 2019, 9:30AM: Based on Friday’s prices in the energy market, we have room to go lower in retail prices. The cheapest I can find near Grand Rapids right now is $2.51 (ignoring the Costco/Sam’s Club discounted prices), but we could easily be in the $2.30’s. The fly in the ointment is the ongoing tension with Iran, such as the oil tanker near Gibraltar this weekend. (Looking back at 21st century gas prices, the highest prices ($4+ a gallon) correlated with tension or war in the Middle East.) Nevertheless, I am going to hold off filling up this week until I have to, looking for cheaper prices.
In other news, look who settled a gas gouging lawsuit in Kentucky this summer. -EA