Prediction: $3.85 for Labor Day Weekend

Wednesday, August 31, 2011, 7:15AM:  I just updated my spreadsheets, and we’ve had noticeable jumps in oil and gasoline futures the past few days, while retail prices have been sinking slowly.  I estimate the 20-cent margin price to be $3.86, so expect a price re-set to $3.85 either today or Thursday. — Ed Aboufadel

Updated: August 31, 2011 — 6:14 am

3 Comments

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  1. Perfect prediction! You got both the day (Wednesday, August 31) and price ($3.859) correct.

    Here are the earliest reports from Speedway stations in Michigan:

    9:33 a.m. Bridgman
    9:47 a.m. Port Huron, Pine Grove Ave.
    9:54 a.m. Lansing, Lake Lansing Rd.

    Current averages:

    $3.789 Ann Arbor
    $3.767 Detroit
    $3.740 Michigan
    $3.720 Kalamazoo
    $3.712 Flint
    $3.702 Grand Rapids
    $3.658 Lansing
    $3.629 USA

    The lowest prices in the state (i.e. where Admiral is loss leading this week) are in St. Johns ($3.469-$3.479 w/ 1 Admiral) and Sturgis ($3.509-$3.519 w/ 2 Admirals).

    The BP in Romulus next to Detroit Metro Airport leads the state with $4.199. It will be interesting to see if they go any higher. They are the only station in the state currently reported above $3.999.

  2. Speedway’s site updated with the new prices at 10:47 a.m. EDT.

    All 290 Speedway stations in Michigan were listed at $3.859, except for the following which were at a variety of pre-increase prices between $3.469 (St. Johns) and $3.769 (Grayling):

    (616) – Grand Rapids (9 locations), Jenison (2), Comstock Park (2), Kentwood (2), Grandville, Lowell, Wyoming

    (231) – Cadillac (2 locations), Fremont

    (269) – Sturgis

    (989) – Midland (6 locations), Saginaw (5), Caro (2), Alma (2), St. Johns (2), Bay City, Grayling, Oscoda, Essexville

    (517) – Lansing (10 locations), De Witt (2), Bath (2), Jackson, Mason, Eaton Rapids

    (810) – Port Huron, Davison, Algonac, Burton

    (248) – Lake Orion

    The first spotter report in Kalamazoo wasn’t until 10:47 a.m. Since the Kalamazoo area spotters are usually among the first in the state, I’m thinking the Kalamazoo area Speedways went up about an hour late today. The first competitor reported up was the Marathon on Gull Rd. to $3.849 at 11:14 a.m.

    The first spotter report in Grand Rapids was 11:13 a.m. in Ada.

  3. A few Speedway and Clark stations in downtown Fort Wayne just dropped 5¢ a gallon since this morning. This drop in price this large is usually a precursor to a price spike. At $3.639 a gallon, and yesterday’s spike line price of $3.56½ a gallon, and with the desire I’ve noticed lately to regain at least 5¢ increase in average margin per gallon, I believe we could be setting up for a spike here in Fort Wayne and Indiana in general since all stations seem to go on the same day. I don’t think the current pricing will last the weekend with out a spike. Just ramblings.

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