Several national media companies have reported a connection with last week's fire at the Toledo Refining Plant and an $.11 increase in the last week.I should be more sympathetic, but I'm not. As you can see from the conclusion of I was right in less than a day, metro Detroit has already experienced the price hike that Toledo is complaining about and the prices here are higher.
The corner station didn't even wait a full day to take the offensive in the next battle of the gas war, raising the price of regular to $3.75. That's nearly fifty cents in less than a week! So far, the stations down the street aren't taking the bait, as they're keeping their prices at $3.49. I filled up at one of them, as I expect everyone's prices to stabilize at $3.59 or so when this round is over.It hasn't quite worked worked out that way, but not in a bad way. All the rest of the stations held their prices at $3.49 until yesterday. As a result, the corner station dropped its price first to $3.69, then matched its competition at $3.49 on Sunday. Once again, it lost the battle in the local gas war.
Just the same, my forecast for rising prices still looks good, as all the stations raised their prices to $3.55 today. It's only four cents to my predicted $3.59. I bet they can reach that by Friday.