Gas Price UpdateApril 16th, 2014 at 8:24 pm by Bill Steffen under Bill's Blog, News, Weather
Here’s the latest from Ed: “Tuesday, April 15, 2014, 9:00PM: Despite the fact that ethanol prices are back under control, Monday’s price hike had the same flavor as other recent hikes. That means that the price to retailers still has an ethanol premium included, or those red colored stations are pricing gas pretending that ethanol is still a problem and hoping we just live with it. A clue that it may be the latter was the curious behavior in prices along Lake Michigan Drive the past two days. While prices in Grand Rapids were popping to $3.89 everywhere, the Family Fare at Collindale held in the low $3.60′s, and Speedway was forced to follow. Tuesday morning, they still had those prices, as did the Marathon down the road in Standale. GoLo there was at $3.79, though, and at 3PM today as I drove by, Speedway and Marathon decided to try $3.85. They’ll be back to at $3.79 or lower tomorrow, and we see this sort of behavior when there is a lot of room for prices to move, as I think there is right now. I am calculating a price to retailers of about $3.54 right now. The easy prediction recently has been “expect another hike”, although my math models don’t quite say that. In these times, we sit back and watch.” — Ed A.
Bill adds: Gas is $3.45 where I am in Oak Ridge, TN.