Saturday, January 11, 2014

Corner station sets new low for year

I was wrong in Time to board the gas price rollercoaster for 2014, at least about this weekend.
Normally, I'd predict that the corner station would have to retreat to where it started, but the indicators are that prices might actually start rising locally.
Should the metro average hold, I'd expect a new level of $3.21 to $3.25 within a week for the neighborhood.
Despite all the indicators I mentioned in the previous report that suggested that the overall price would go up, the price dropped below its previous level, as the corner station gave up all of its increase plus another penny to sell regular at $3.18.  That's the lowest price of the year so far and lower than last year at this time, when the corner station dropped to $3.21 and the three stations down the road were exactly where they've been for three weeks at $3.19.

As for next week, Gas Buddy shows that none of the averages I track have dropped, so $3.21-$3.25 is still possible by Saturday.  In fact, I expect prices to rise on Monday.  Check back that night for an update.

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