Tuesday, February 5, 2013

Toledo complains about gas price rollercoaster going up

Before I update the local situation, here is what it looks like just over the state line in Ohio, where WNWO-TV reports Gas prices in Toledo up more than 50 cents in the last month.

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.

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