Comment on the December 15 prediction: We got the rest that Wednesday, so the prediction was CORRECT.
Sunday, December 29, 2019, 2PM: It looks like commodities bottomed out in August, when oil traded at about $51 a barrel. More upward action last week in oil, now at almost $62 a barrel. That’s why we got the price hike on Thursday, and it appears the typical late December-May upward move in gas prices has started. I usually don’t look ahead several months, but I think we’ll see $3 gas again in 2020. But, for the coming week, we appear to be safe from another price hike.
Thank you to all our readers for following us in 2019. More to come in 2020! -EA
Wouldn’t be surprised to see gas at $3 bucks a gallon by the first day of spring and $3.25+ leading up to Memorial Day since oil is so much higher than it was last year at this time. Crude finished out 2018 at just over $45 a barrel
Going to $2.85/2.95 in Chicagoland this evening in an expected hike.
As of 1:00AM Crude is 2.7l% higher than the 01/02 closing bell, probably all of it in response to the Baghdad airstrike. There is no telling what will happen at the opening bell today but we all can make a fairly accurate guess. I will be topping off today just in case.