Comment on the December 8 prediction: Prices rose to $3.19 on December 10, as CORRECT-ly predicted. However, I was asleep for the reset to $3.25 earlier this week, although our GasBuddy had something to say about it.
Friday, December 20, 2024, 11 AM: As I’ve written previously, there is normally a seasonal pattern to gas prices, with prices bottoming out sometime in December most years. Has that happened again this month? Maybe. Probably. Or the low was Thanksgiving weekend. See the weekly Detroit chart that is available to the public.
A summary of the past year: last December, we were also in the $2.80’s before retail prices in Michigan worked their way up to the $3.80’s in April. There was a reset to $3.99 in late July, but we were back to the $3.20’s by Election Day, and then below $3 afterwards. Today, back in the $3.20’s. Oil prices were remarkably stable during 2024, wobbling between $65 and $87 a barrel. Gas prices basically followed gyrations in oil prices, and investors in energy weren’t really rewarded this year. In Michigan, retailers were successful setting higher margins (re: profits) on pump prices this year, sadly.
Well, that’s it from me in 2024. Although the stock market acted up this week, I’m not expecting much with oil or gas prices until January. (But that’s not a prediction.) Thank you to our loyal readers. -EA
Speedway going to $3.29 Anderson Indiana.
Are junk food sales down and dealers looking for profit elsewhere? Crazy markups.
Shell at $3.29 in Battle Creek. Luckily Sams is still $2.82
Happy New Year from the greedy oil companies
Back to $3.299 in Ohio. Ridiculous.
$3.29 in NW Indiana.
$3.299 in central Indiana as well on Dec 30 courtesy of the Greedway Grinch.
Illinois has been ignored. Prices hadn’t fallen that much from the last hike.