Looks like I'm not done with low and still falling gas prices. First, I promised Limbo Kitty next time. It's the next time, so Limbo Kitty returns. Next, I predicted gas below $2.00 between Halloween and Thanksgiving. That's here in metro Detroit. In the outlying towns around Grand Rapids, that's already happened, as WOOD-TV reported Monday in Gas below $2/gallon in some cities Monday.
Experts say Monday’s gas prices were the lowest West Michigan has seen on Labor Day in almost a decade.I always glad to see Patrick DeHaan interviewed; he is probably my favorite expert on gas prices. Speaking of GasBuddy, it's showing the stations in my former neighborhood all selling regular for $2.19. I said they'd drop their prices, and they did. Right now, they're exactly a dime below the Detroit average of $2.29, which means they are currently competitively and appropriately priced. Even so, prices should continue to drop, as the cheapest station in metro Detroit is selling regular for $1.95. The average might dip below $2.00 before Halloween, but I'm not making that prediction yet.
The oil markets may push that along, though. WTI ended trading last Thursday at $46.75 with Brent at $50.68. Oil-Price.Net shows that both have declined since, with WTI closing Tuesday at $45.94 and Brent at $49.52. Not only is oil down, but so is RBOB, which fell more than a penny to close at $1.40. That will support gas below $2.00 in the lower overhead markets. Whether Detroit is one of them remains to be seen. Stay tuned.