I finished Gasoline headed back to this year's lows with a couple of predictions. The first came true.
The three stations down the street all dropped their price for regular to $3.09 in the morning. By late afternoon, the corner station dropped down to $3.10. I'm sure it will match the rest of the neighborhood stations today or tomorrow.Later that evening, it did. The next week, it led a charge into no man’s land by raising its price to $3.29 for a few days, but the stations down the street ignored it and it matched them at $3.09 for more than a week--a rare truce in the gas price war.
The second never happened and isn’t likely to.
As for where it will go next, GasBuddy shows all averages dropping. The national average is now at $3.24, the Michigan average is down to $3.15, and the Detroit average is between $3.13 and $3.14. The previous record low of $3.04 is now back within reach.Yeah, it was within reach, but none of the stations dropped below $3.09 for more than two weeks. Yesterday, the corner station charged into no man’s land again by raising its price to $3.29, while the stations down the street held firm. Today, it dropped to $3.19. By this evening, at least one of the stations down the street joined it. I expect all of them will by tomorrow, so the cheapest gas part of the year is now over.
GasBuddy confirms this, with the national price rising from $3.20, a penny above the year’s low of $3.19, a couple of days ago to $3.23 today. The same day, Detroit hit its low of $3.09 and is now up sharply to $3.18. That’s when the state bottomed out at $3.07 and is now over the national average at $3.24. Prices will only go up from here until after New Years. Time to fill up my wife’s car, especially since I’m driving it more.