When I went out this afternoon, the prices had shot up 20-30 cents in one day. The three stations a few blocks away had increased their prices to $3.69, while the corner station once again raised their price more aggressively, hiking it to $3.79.I was proved right, as I wrote in Flooding bumped up the gas price rollercoaster.
Unless this rally in Brent continues, I expect prices to drop a bit.
The prices are already starting to drop. The corner station has matched the rest of its competitors and is selling gas at $3.69, a drop from the $3.75 late last week.Since then, the prices have gone up and down twice. First, the corner station started another round of price raising and failed, as they posted prices of $3.89 two weeks ago. The other stations didn't bite, and by the end of the week, everyone was selling for $3.65.
This week, the corner station charged out into No Man's Land again and managed to hold it until today. On Monday, they were selling regular for $3.79 while the three stations down the street had prices of $3.75. That lasted until this afternoon, when the three stations dropped regular down to $3.70. By this evening, the corner station matched their price. I can take comfort in competition working to keep prices down.