Watch out for a hike to $3.99!
Sunday 03 Aug 2008 | Posted By Patrick | Predictions
After enjoying lower prices for a few weeks, I’m sad to announce I’m expecting a hike to $3.99 around Grand Rapids soon. Perhaps as early as Monday, or they could wait. Prices have been creeping up, we have a tropical storm in the Gulf that’s pushing prices higher (not as much as it could… small storm)
Be sure to fill up soon. I was “lucky” to get gas for (are you going to be upset at me?) $3.64 Saturday in Fremont with the help of a Speedway Credit Card… that may be as low as we see it for sometime now as Hurricane season kicks into high gear.
I can’t believe its August already and I’m still seeing gas prices well over $3.50. Oh well.
Patrick
EDIT: Prices are sliding on the market today. Looks like we will dodge a price hike!
August 4, 2:30pm EDT
EDIT: August 5: Prices didn’t decrease fast enough for Grand Rapids, a price increase is now at 50/50 odds!
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Thanks.
You may want to back out of your prediction. Numbers look good on the market. It’s still early yet, but the numbers are pointing downward. Time is on our side for a fillup…for now.
Thank you for all the great gas information. Just wondering if your mobile version of your site is down. I haven’t been able to view you site on my nextel phone for over a week. Maybe its just my phone. Thanks
Wow, I just noticed that our rack prices are over 10 cents higher than the market prices.
I got a gas alert from Meijer today (Wednesday) and they didn’t move by 2:30. Speedway dropped in my town and I didn’t notice any increase at their below cost stores. So, I don’t know what the deal was.
A lot of towns are at or below cost right now, so I wouldn’t be surprised to see a restore to $3.859 on Thursday.
We always run into the same “problem” when prices drop quickly like they did the last few weeks. People stop filling their tanks and instead buy a little every day or 2 to get a lower price. Which results in a loss of gallons, we had several stores that were down 20,000 gallons for July. A lot of stations seem to mistakenly assume that they lost sales to other stores, and keep dropping their price to attempt to steal those customers back. But, they just end up making everyone sell below cost without gaining any gallons back.
Speedway just went to $3.899.
Rack prices were up about 2.5 cents last night. So far the market is up 7 cents. If it keeps climbing and we get an increase in the 10-15 cent range tonight, I wouldn’t rule out another restore to $3.999 on Friday.
Thanks Retailer for your posts!