Tuesday, September 1, 2026, 5 PM: I waited until September arrived to write this latest post. In my last post, I avoided a prediction, but then prices rose in Michigan to $4.39 the next day. Today, we are in the $3.99 – $4.29 range, and it looks like they just reset in Indiana to $3.45. That hike might be a first step towards the restoration of the Indiana gas tax this weekend, so I am not sure it is foreshadowing a hike in Michigan.
The 8/24 hike to $4.39 was in tandem with a spike in oil prices to $87 a barrel, and of course, as soon as the hike was complete, oil prices fell to $82. This afternoon, though, it is back to $90, with new closing highs in the United States Gasoline Fund (UGA) and our friends at Valero (VLO). If it wasn’t for the move to the winter gas blend today, a move back to $4.39 or higher before Friday would seem obvious. Instead, it is more of a coin flip. I pick tails, predicting a hike soon and advising readers to fill up. – EA
