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  1. In my post on Tuesday ( http://www.thegasgame.com/2012/05/20/filling-up-on-monday-morning/#comment-3763 ), I pointed out a Speedway station that for over two weeks advertised diesel fuel for about 10¢ higher than its competitor across the street. That evening, that Speedway finally matched its across the street competitor, now at $3.959.

    Was it coincidence or is Speedway watching? With over 1,350 corporate owned locations, Speedway is certainly large enough of a company to employ someone to monitor mentions of their brand on-line. Even before the internet, large companies, like Ford Motors, employed people to monitor broadcast media and record mentions of their company.

    Some time ago, I wrote about an occasion where I found a Speedway advertising regular unleaded gasoline on their electronic sign for 8¢ higher than they were actually selling it for. For an example of the reverse, search YouTube for “Speedway Gas Price Lie,” where a Speedway was selling diesel fuel for a higher price than they were advertising it for.

    Bloomberg reports the Chicago spot finished yesterday down another 6.47¢ (2.27%) to $2.7823. That moves the Michigan spike line to:

    $3.574278 with no rack adjustment, plus 10¢ Speedway summer surcharge
    $3.474278 with no rack adjustment

  2. I’ve been trying to wrap my mind around this, as well. I keep track of the rack prices in Chicago as well as the Chicago market price. The rack there has averaged around 13¢ over the market price since the beginning of last year. Since March it’s been around 21¢ over. This is probably the reason for the disconnect we are seeing lately. The market price is not the reliable source we are used to. This is why having a local rack would be ideal, we would know what local stations are actually paying. But we shall muddle on with what we have.

  3. I wonder how different a graph we would have comparing a spike state with a non spike state from the same region or base price and either factoring out sales taxes or choosing a comparison state with similar gas tax.

    The graph above (and perhaps Speedway as well :-)) would have us believe that the spike is a simple pricing strategy with no deep impact. I used Indianapolis and Raleigh, NC (similar state tax amounts) and Indy is above the average a lot more than in the original graph.

    Heck, there are even instances where the LOW point of the spike is the NC price, while the sky’s the limit on the high.

    Finally, the sheer number of spikes is growing – I counted 35 in one year in Indianapolis, which is not good in itself…

  4. Is anybody else noticing that the ‘check prices’ portion of Speedway’s website is down? I haven’t been able to access it in a couple days.

  5. 10:20 a.m. Wednesday

    I am able to access prices via Speedway’s website just fine this morning. Where I am having a problem is Bloomberg, which is nearly inaccessible. Earlier today, it was still showing the Chicago spot price from the last time I posted here (the closing price on 5/23). It is now showing yesterday’s closing price as $2.8085, up 2.18¢ (+0.78%). That moves the Michigan spike lines to:

    $3.60205 without a rack adjustment, plus 10¢
    $3.50205 without a rack adjustment

    The Michigan average is currently $3.665. Yesterday’s Speedway average was $3.649. So, it is conceivable Speedway could reset tomorrow (Thursday, May 31) to $3.799 in Michigan’s lower peninsula and Indiana. The Spike Line page shows 22 Speedways in Ohio went up yesterday, but none in Michigan or Indiana. Evansville, Indiana has no Speedways, but GasBuddy is showing their average prices up 8.2¢ over the past 24 hours, from $3.502 to $3.584. Prices in Evansville currently range from $3.419 at Wal*Mart’s Murphy USA to $3.799 at 3 locations. There does not appear to be any statewide Speedway resets today in Michigan, Indiana, or Ohio.

    New York June gasoline futures are currently $2.8532, down 5.33¢.
    New York July gasoline futures are currently $2.7732, down 6.11¢.

    New York WTI July crude oil futures are currently $88.05, down $2.71.

    Current retail averages:

    * $4.049 Chicago (highest in the Great Lakes)

    * $3.696 Cincinnati (lowest $3.479 at 4 locations in Amelia) — rare for any Ohio city to be above Michigan and Indiana cities

    * $3.673 Kalamazoo (lowest $3.609 at both Admirals in Plainwell)

    * $3.668 Indiana (lowest $3.359 at 3 locations in Monticello, including Admiral)

    * $3.665 Michigan (lowest $3.369 at 4 locations in Sturgis. thanks to the 2 Admirals)

    * $3.659 Grand Rapids (lowest $3.509 at Admiral on Plainfield Ave. NE in Grand Rapids)

    * $3.645 NATIONAL AVERAGE

    * $3.619 Ohio (lowest $3.289 at a Marathon on W. Main St. in Crooksville)

    * $3.603 Fort Wayne (lowest $3.539 at Lassus Handy Dandy in Columbia City)

    * $3.598 Dayton

    * $3.595 Columbus

    * $3.586 Evansville

    * $3.585 Madison, Wisconsin

    * $3.566 Toledo

    * $3.565 Champaign, Illinois (lowest in Great Lakes)

  6. Crude Oil Will Fall Below $80 a Barrel in June: Suttmeier
    http://finance.yahoo.com/blogs/breakout/crude-oil-fall-below-80-barrel-june-suttmeier-134205679.html

    “Of course, as any energy analyst or trader will tell you, the crude crisis is not just the result of slack demand and economics, but is also the biproduct of a resurgent dollar. Regardless of whom you ask, the greenback’s role in this crash has also been substantial.”

  7. As of right now today – – yahoo finance

    Oil
    87.559998
    -3.20
    -3.53%

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