Hike coming? Not totally sure, but looking likely

With prices nose-diving around Grand Rapids this weekend, I’m thinking we’re going to see a hike sooner rather than later. The only question that remains is to what price? Quite tricky. The 0-cent margin is about $2.76 right now, with a few retailers making it down to as low as $2.79. I think that those stations are not making any money, trying to buy another tank load before rack prices climb.

Midwest PADD numbers have been strong as of late, but with the Midwest taking the largest hit from maintenance, will that push this next hike to a 40-cent hike? It remains possible. More likely is that we’ll see between $2.95 and $3.09.

I would definitely fill up on your way to work Monday. Prices could fall a cent or two, but they could rise 40 cents- ask yourself- is it worth the risk? No. Fill up now.

Reminder: BP’s Toledo refinery is now completely shut down until mid-November. This could get ugly.

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