Thursday, November 19, 2015

Regular falls below $2.00 in metro Detroit before Thanksgiving as predicted

I concluded Bye, Bobby! Jindal drops out with a program note.
Stay tuned for a gas price update.  Regular fell below $2.00 in my old neighborhood yesterday, just as I predicted it would do before Thanksgiving.
I made that prediction again in Limbo Kitty returns as prices fall to new post-summer lows, when I also noted that all the stations in my old neighborhood were selling regular for $2.19.  The price didn't fall over the next few weeks, as they inched up to $2.22 and then $2.25.  On Tuesday, a co-worker informed me that the price had fallen below $2.00.  Sure enough, regular was selling for $1.95 at all outlets.  I promptly filled up Pearl.

Limbo Kitty continues to dance, as GasBuddy shows that at least one of the two stations down the street from the old corner station has dropped its price for regular again to $1.88.  The station is merely tracking the Detroit average, which is currently $1.97.  Sub-two-dollar gas has arrived in my area by both criteria I use, the average in my old neighborhood and the GasBuddy average for Detroit.

Gas is cheap not only here, but across the state line in Indiana.  Yesterday, WSBT in South Bend posted Gas prices drop below two dollars to its YouTube channel.  Prices are even lower there.

Oil-Price.Net shows futures prices for oil and wholesale prices for gasoline are all down from last month, when WTI was at $45.55, Brent was at $48.71, and RBOB is selling for $1.28.  WTI closed yesterday at $40.75, Brent at $44.14, and RBOB at $1.27, all of which are actually slightly up from their closes on Tuesday.  Even so, watch for more Limbo Kitty between now and Christmas, as I expect gas to fall to $1.75 by then.  Stay tuned.

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