After yesterday’s spike up to $2.85 we saw the bottom completely drop out of the Chicago market, and wholesale gas jump 13 cents to $2.29. This was for delivery to the Wolverine Pipeline, which covers the lower part of Michigan. With Speedway jumping up to $2.85 before this climb, and the price being specifically set for Michigan, $3 has just jumped into the realm of possibility for Michigan drivers.
And it isn’t just me saying this. Some guy calling himself a petroleum analyst for GasBuddy.com, Patrick DeHaan, also believes this is so. He said so on WOOD-TV 8.
So, I’d hate to say this, but $2.85 or less is looking pretty good come tomorrow at 9:30, as we may see Speedway break the $3 barrier, or come close at $2.99. Hold on to your hats, the pain hasn’t stopped, yet.
I am not sure what this means for Indiana and Ohio. It is quite possible we, too shall see a spike tomorrow as well. But it is hard to tell where we are getting our gas from. NY Harbor, Group 3 and Gulf Coast gas prices are almost 35 cents lower than the Chicago spot, and I wouldn’t be surprised if gas from one of those areas makes its way to this area. The price in this area will be lower, but to what extent? A spike is a possibility, but I’m thinking it would be much like last week, where we will ride out the last spike. But jumping into the mid to upper $2.80s wouldn’t shock me at all, either.