Chicago spot gasoline:
Chicago Spot: $1.78 UP 0.0978
Costs and taxes adjustment: 0.7772
Fair Price: 2.4082
Average Michigan selling price 2.3820
Margin over cost + profit: -0.0262
USA Average: $2.479
Michigan average ( $2.382 ) is $0.097 under USA average
A spike is looming, with a negative margin in my fair price formula. It’s quite possible that the run-up on the markets won’t transfer over to your local rack prices, but I’m 90% sure of a spike tomorrow.
Expect prices anywhere from $2.37-$2.42 in Indiana, 5 cents higher in Michigan, and with the Chicago RBOB only 1 cent over regular, it could be anywhere from 0-5 cents over the Indiana price.