Here was the situation last week when I wrote Neighborhood stations riding different tracks on gas price rollercoaster.
Today, the corner station raised its price to $3.69 for regular, so they made the first half of my prediction right a few days early. I'm also sure that the price will drop, but it might go lower than the $3.59 I expected. The response of the three stations down the street was not to raise prices to $3.55 or $3.59 and then wait for the corner station to drop to $3.65 and then $3.59. No, they all lowered their prices a penny this afternoon to $3.48. That's a surprise, and it makes me think that the corner station might return to $3.49 this weekend after finding themselves out in No Man's Land.Monday, it retreated all the way and then some, as it matched the rest at $3.48. That's one prediction that worked out. What about the next one?
The next time the corner station raises prices, they likely will stick and the neighborhood price will settle between $3.55 and $3.59 inclusive. That's next week.This looks like it will come to pass, but not the usual way with the corner station raising prices first. Instead, one of the stations down the street advanced first and is now selling for $3.59, exactly what I expected when I expected it. Meanwhile, the corner station kept its price at $3.48.
Right now, enjoy the gas war.I did, as I filled up at the corner station while I had the chance to do so. I expect its price to rise in the morning. Meanwhile, I'll have a full tank.
As for future price increases, I think we've hit the high for the week. The steady rise in the national average displayed at Gas Buddy stalled for three days at $3.44 before finally nudging up to $3.45 yesterday. Meanwhile, the Detroit average slid from $3.64 down to $3.62. As I predicted last week, the current step up has crested and the metro area's average is declining slowly. That makes me three for three.
Oh, and prices are still below where they were last year on this date. That's good news, but no Professor Farnsworth tonight, as prices are still going up.