Speedway raises prices day after huge drop in wholesale prices

Let me just say how surprised I am that Speedway raised prices today. I think everyone should be able to see how out-of-line this price hike was as it stunned many.

Wholesale gasoline prices closed down a good amount yesterday, so why did Speedway raise prices? Good question.

And while we’re on the topic, Speedway is crippling its Speedy Rewards program effective May 1. Did something happen? Loss of 5-cent Speedway Credit Card discount on April 1, Speedy Rewards points “adjustments” May 1, what’s next? Oh well, guess I’ll have to find a new place to get fuel.

There was no reason for prices rising today except to increase profit margin (especially with the huge loss on the market yesterday)!

Patrick

5 Comments

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  1. because the last price hike wasn’t nearly enough and they have been giving the fuel away for weeks. Many single store owners are on the brink of disaster – because they have to compete with speedway, admiral, meijer, spartan stores. Go Speedway – it’s about time they actually made a little money on gas. Greed – nothing to do with it, shame on you!

  2. How is the speedy rewards program going to be crippled? I hadn’t heard anything about this

  3. I never fill up at Speedway because they are crooks in my eyes and raise their prices for absolutely no reason – like yesterday. I also never fill up in Rockford because I can ALWAYS get gas cheaper elsewhere. Cedar Springs is always cheaper than Rockford. Sparta, plus I’m over on Alpine a lot [this morning for instance, I filled up for $1.95 at Sam’s Club, but then I do have a card], but also, the Marathon on 4 Mile and Alpine was $1.99. I run enough errands around town in any given week that I can always find cheaper gas somewhere. I’ve been fortunate and since gas has been topping $2 here in recent months, I’ve never spent over $1.99 a gallon – just hitting the filling timing right or being on the right side of town when prices are higher elsewhere. That’s another thing I can’t figure out – why do gas prices have such a wide gap in pricing from one side of town to another??? Right now it seems to run 10 to 15 cents, but I can remember when it was 20 cents from one side of town to the other. That makes no sense either. It’s all just politics and a bunch of bullsh** in my eyes. They raise gas prices because they can and there is nothing we can do about it.

  4. I received a notice in the mail that my Speedway MasterCard was no longer going to be earning me the $0.05 rebate at the pump.

    According to the letter I received, the rebate ended April 1, not May 1. I had the card solely for its fuel incentive. So I’ve closed that card and am now back to earning airlines miles by using a different card.

    I was really surprised that they’ve canceled the rebate. I thought it was rather clever of them to run a program like that. It allowed them to charge up to 4 cents per gallon more than their competition and I’d still buy there. I imagine this created a bit of upward pressure on pump prices as the adjacent stations felt they could raise prices a few cents since the Speedway behemoth was selling gas for 4 cents more.

  5. Brian, the post is correct.

    There was a removal of a 5-cent discount for the credit card, but now effective May 1, they are raising the points needed for some rewards via the Speedy Rewards system.

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