Tag: prediction

Tough Week for Oil = Good Week for Drivers

Comment on the October 19 prediction: Prices rose on 10/21 to $2.15. That’s was a bit higher than I thought, but I still going to score it CORRECT.

Sunday, November 1, 2020, 10AM: Oil prices fell 10% since October 20, and wholesale prices have been following. So, we are set up for lower prices. Sparta, as usual, has been leading the way ($1.86 this morning), and by my calculations, don’t pay more than $2 even for gas right now. No price hike on the horizon. -EA

A quiet hike back to $2.55

Comment on the September 7 prediction: Prices reset to $2.54 on September 9, which is pretty much what I said would happen. CORRECT.

Thursday, September 17, 2009, 6:00PM: Wholesale prices have been pretty quiet, but there was a bit of jump last night, which turned into a price reset to $2.55 today. Hard to see right now what’s next, although we are in better shape than in California, which has been dealing with prices over $3 and supply problems.

Back to $2.59 on Tuesday?

Comment on the August 18 prediction: Prices rose on August 20 to $2.59, so the prediction was CORRECT.

Monday, September 7, 2009, 6:00 PM: The past two weeks have been very busy for me, but gas prices have been tame, except for the unusual price adjustment a week ago, where Speedway and others raised prices a few cents, but there was no state-wide reset of prices. That is going to come this week, particularly with gas down to $2.26 this weekend in Lowell. I predict a price hike, perhaps as soon Tuesday, to somewhere in the range of $2.49-$2.59. I know many stations are $2.49 today, so maybe they don’t see a hike, but it is hard to be more precise right now. Looks like I am in agreement with Bill. — Ed Aboufadel

In total agreement with Ed.

Sorry we haven’t posted on here for so long. It’s for a good reason, though… we haven’t had to. If prices aren’t going up, I usually won’t put a prediction here. But I do still update “Fair Price” threads on GasBuddy.com sites in Indy, Indiana, and Michigan daily. I might start posting something similar on the Gas Game’s Facebook page.

We are in grave danger of a spike, and soon. Michigan’s average is almost 2 cents above the break even point. Indiana is almost 9 cents above. We don’t usually see spikes on Wednesdays, but there is a possibility of one tomorrow. If it doesn’t come, and the bottom doesn’t fall out of the market, it will come on Thursday. I’m a little iffy on a price prediction, but $2.60-$2.75 seems about right in Indiana and Michigan. Since Michigan is paying a premium of 7 cents over Indiana right now, they will be on the high side of that. NW Indiana should see a 10 cent premium over Indiana’s price.

Back from vacation, and looking for $2.59.

Comment on the August 3 prediction: Prices rose to $2.69 the next day, slightly below the $2.72-$2.82 range I predicted. But, I’ll call it CORRECT regardless.

Tuesday, August 18, 2009, 4:20PM: I spent last week near Cheboygan. Prices were frozen at $2.69 up there all week, while the games continued in Grand Rapids. Let’s see where we are today. Retail prices range from $2.41 to $2.64 right now, according to GasBuddy. NYMEX indicates wholesale prices around $1.88, which leads to a calculation of $2.41 as the 0-cent margin price — of course! So, I think we’ll see a hike before the end of the week, with the new price in the neighborhood of $2.59. — Ed Aboufadel

The late summer tornado of price hikes is on!

Comment on Thursday’s prediction: We got a hike on Friday to $2.59. CORRECT.

Monday, August 3, 2009, 2:00PM: Once again, stocks rally and so does energy prices. We are up at least 10 more cents at the wholesale level since Thursday, so another price hike is on its way. Look for retail prices in the $2.72-$2.82 range Tuesday or Wednesday. So, I’m agreeing with Bill! — Ed Aboufadel

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