Gas Price FireworksJune 22nd, 2014 at 10:24 pm by Bill Steffen under Bill's Blog, News, Weather
Here’s the latest from Ed: “Comment on the June 13 prediction: Yup, prices went back up to $3.99, as predicted. CORRECT.
Sunday, June 22, 2014, 8:45PM: The stocks/gasoline connection has been weaker for a while now. They used to move in tandem. Lately, we’ve seen the Dow and SP hit new all-time highs, but gas prices here in Michigan remain (barely) under $4. (All time high for gas in MI, according to my records: $4.29.) But the recent rally in stocks may have something to do with keeping wholesale gas prices (e.g. NYMEX) at about $3 and the price to retailers at about $3.70. With retail prices getting close to $3.70, I predict we are back to $3.99 soon, probably Tuesday, although it could happen Monday or Wednesday. All in time for the holiday weekend coming up! –Ed A.