Comment on the August 27 prediction: CORRECT, as we had no hikes through the Labor Day weekend, at least in Michigan.
Tuesday, September 5, 2023, 7:00 PM: Twice today, I received a notification that oil prices were continuing their recent rise: “Oil prices reach the highest levels since November 2022”. Yet, wholesale gas prices have been sliding since August 14. With gasoline, we are seeing the end-of-summer drop off, as “summer gas” stocks are on clearance, with the cheaper autumn prices on their way. Retailers can switch to winter-blend fuel beginning September 15.
This makes playing The Gas Game at this time of year difficult. In past years, I’ve often been WRONG to predict hikes in September, because I wasn’t paying attention to the switch to winter gas. So what am I doing right now? I filled up this afternoon (I was low on gas) in the $3.60’s, and neither a hike nor no hike will surprise me this week. Yeah, I know that’s not very helpful. -EA