Comment on the November 8 prediction: Prices rose that week, to $2.09-$2.15 here in Michigan, so CORRECT.
Sunday, November 22, 2020, 11AM: The end of the calendar year is usually the time for the cheapest gas prices. It is still November and gas stations seem to be celebrating Christmas early, as I filled up for $1.69 at Costco yesterday. However, the price of a barrel of oil is above $40 again, and in the past month, energy stocks have turned from a terrible investment to a great trade, up more than 25%. What does this mean for gas prices? Short term, we avoided hikes the last two Thanksgiving weeks (although last year there was a hard reset the following Monday). I suspect that some of those $1.70’s out there might go back to something like $1.99, but I am not predicting a system-wide hike this. However, that move in energy stocks suggests higher prices are coming in 2021. -EA
Driving from Lansing to Bowling Green Ky yesterday, passed a couple of Speedways in Indy that were $1.66. That was at least 10-15 cents cheaper than any other stations I had seen. Lots of places were still 1.80s-1.90s, with some $2+
Although there is no such thing as a “holiday price hike”, the current Speedway prices lead me to expect a hike in Chicagoland Monday or Tuesday. Wednesday would be too late.
As expected a hike in Chicagoland. Just $2.15 though, in the collar counties outside Cook.
$1.99 reset Indiana
$1.999 reset in Ohio.
Going to $1.99 in South Central Ky.