Comment on the October 1 prediction: Prices have been dropping all month, but slowly. The prediction was CORRECT.
Sunday, October 15, 2023, 9:00 PM: Looking back at the last several weeks, oil hit a closing high of over $93 a barrel on September 27, which turned into a hike to $3.79 the next day. Other than some strange market behavior on Friday the 13th, oil prices have been dropping, and so have gas prices, particularly as seasonal effects have kicked in. This evening, Lowell is the place to fill up in Kent County, as serious competition has kicked in, dropping the price to $3.23 a gallon. Nice competitive pricing in the Jenison area, too. Prices are stuck in the upper $3.60’s in Allendale, though, as the competitive pricing we saw earlier this year near GVSU has disappeared.
What’s next? Friday’s jump is going to make it hard to get down to $2.99, but gas prices still have room to fall before we get into price hike territory. Seek out prices in the $3.20’s if you can. -EA