We are in Spike territory in all areas. So it is likely we will receive a spike tomorrow. The only thing that will hold Speedway back is history. They rarely spike on Fridays.
If Speedway doesn’t go up tomorrow, be on the lookout for another supplier like Meijer or Atlas Oil to push prices up over the weekend. Indiana could go up to $2.79-2.85, Michigan and NW Indiana could go to $2.89-2.95, and Ohio could go to $2.85-2.89.
Comment on Monday’s prediction: We got a big hike on Wednesday, as predicted, although the price was 6 cents higher than I thought. That was because wholesale prices went up 6 cents on Tuesday. Consider me pretty much CORRECT, though.
Friday, July 16, 2010, 2:00 PM: As many of you know, I live in Ada and I work in Allendale. With I-196 closed, I’ve been driving on I-96 to Marne, and then south, so I have been spending a lot less time driving through Standale, where I keep track of prices. I’ve been using Speedway’s website and GasBuddy instead. As noted on Monday, I was surprised that the lowest prices in the area were in Standale last weekend. Standale has been the tourist trap of gas prices the past year. I drove through there yesterday and found out the reason for the lower prices: Citgo is open again! If there is any doubt, let this be more proof that the only way to keep gas prices down is to have stations like Citgo, Admiral, and independents who are willing to compete with the big boys. Yesterday afternoon, Citgo was already at $2.79.
Comment on the June 30 prediction: Prices dropped as predicted, getting down to $2.59 in Standale (of all places) as I write this. The prediction was CORRECT.
Monday, July 12, 2010, 4:00PM: Didn’t have time to post this morning, which made me tense, because the numbers indicate that a price hike is due. Bill is right! Wholesale prices rose 16 cents last week, and there was a price hike in Indiana on Friday. So, fill up your tanks, and expect a new price of $2.79 tomorrow or Wednesday. — Ed Aboufadel
With a big spike up in price (14 cents in the past two days) we would be lucky if we didn’t get a spike tomorrow. While it is Friday, and thus historically unlikely, the pressure is just too great. Expect Indiana to spike up to $2.75-2.79, Michigan and NW Indiana to $2.85-2.89, and Ohio to $2.79-2.85.