GasPredictor.com, a Web site providing short-term forecasts of changes in retail gasoline prices, announces that its predictions for next week indicate the end of declining retail gas prices. They are not predicting what will happen after that - whether prices will stay near the present levels or begin to increase again - but they are stating that the lowest retail prices will be seen on Tuesday, Nov. 25, or Wednesday, Nov. 26.
According to Chuck Bonner, founder and lead analyst of GasPredictor.com, their forecasting model is not usually used for making predictions beyond about three days in advance. But this past week, the models showed such strong indications of an upswing next week that they decided to go public with the news. "We've been seeing tentative signs of the bottom for a couple of weeks now," Bonner says, "but on Friday night, it was so strong that we mentioned it in our weekly newsletter."
GasPredictor.com's newsletter advises subscribers whether they should buy gas the next day, or wait a day to save a few cents per gallon. Bonner explains, "Our model has been very accurate in environments of both increasing and decreasing prices, but since we started publishing, all our forecasts have been for price decreases. We're stretching the limits of our forecasting algorithm with this, but we don't see any more decreases beyond the middle of next week." When asked for a specific direction in gas prices after Wednesday, Bonner was noncommittal:
Subscriptions are available exclusively through the Web site, at http://www.gaspredictor.com/
