Wednesday, March 5, 2014

Corner station escalates the gas war

Here's what I wrote last night in The price advanced from the other front line.
[O]ne 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.
The corner station raised its price today, but not to $3.59.  Oh, no, it was not content to see the rest of the neighborhood outlets.  It had to raise the stakes by increasing its price to $3.79.  That matched its high from a little over a year ago and actually put its price higher than a year ago for the first time this year, if not for the past four months.  Good thing I filled up last night!

As for what I expect, it will be that the stations down the street will hold firm and the corner station will eventually retreat to the $3.59 I forecast.  The station is well above the $3.64 average for metro Detroit.  As for the national average, Gas Buddy shows it continuing its resumed climb, passing $3.45 today.  If this continues, it will drag the local prices up with it at least one more time.

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