Where’s the hike?

It seems if everyone is suprised the price hasn’t taken a huge jump up yet.

Gas Buddy “itsMorph” states that when he was at the BP in Rockford this afternoon, the price was 2.98 due to the fact the owner had just filled his huge storage tanks. The owner stated he was surprised no one else had hiked.

He’s not alone.
The fellow GasBuddy Predictors and I agree a BIG hike is coming. We *will* see over $3.00/gallon.

We first thought Monday. Prices went up on the wholesale market 6 cents. No rise. We thought Tuesday. Another 6 cent rise today on the market. Wholesale gas is up to 2.21/gallon. Last time we saw a hike, wholesale gasoline was 2.06. You can see we’re in for a rough day tomorrow.

Due to the fact that *ALL* gas stations that are buying more gas are losing money at the pump (The BP owner later was FORCED to lower his price to 2.84 to compete) we’ll see a rise VERY soon, and it will hurt your pocket, and it will be on the news.

I am looking for Grand Rapids prices to hike tomorrow with Speedway leading the way. I expect prices to hike to 3.09-3.15. In some areas this represents a 46 cent hike!! I would fill up everything you can before the price heads up tomorrow.

ALSO- I don’t see prices coming down for the near future. I’ll be keeping a watchful eye on the weekly DOE report tomorrow which tells us if refiners are refining enough oil into gasoline. If that report doesn’t say that refiners have been running near 90% of capacity, we’ll be in a world of hurt, and could see 3.25 soon.

This is not a good picture, but with you conserving, we can all make a small difference. Personally, I am biking to school. Its only 2.5 miles per way, but I’m saving gasoline money, parking money, and wear and tear on the car. Plus I feel better about watching all the cars sit at the red light.

Make a difference! In the mean time, FILL UP!

~Patrick

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