No hike in sight!

Comment on the May 20 prediction:  We hiked on May 22 to $3.89, so, unfortunately, CORRECT.

Wednesday, May 30, 2012, 2:30PM:  In late March, wholesale gas prices of about $3.30 in the Midwest corresponded to a hike to $4.15 in Michigan.  This afternoon, prices keep tumbling at the wholesale level ($2.73 this afternoon), which, if it persists, means retail prices could drop below $3.40.  The lowest right now is $3.50, and we’ve got prices in the $3.70’s in the certain places in Grand Rapids.  I don’t see any price hike coming for the next several days.  — Ed A.

Updated: May 30, 2012 — 2:32 pm

54 Comments

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  1. ChrisDG74, Cincinnati, OH

    Still $3.799 in SW Ohio. I remember the hurricane as well(not the name though). The one that hit Texas. Gas jumped 50 cents total during 2 days, ON A WEEKEND!

  2. RE Scott:

    Have you personally observed prices of $3.909 in Toledo?

    I see those prices on GasBuddy, but all were reported by the same user “jimmyjamz.” In the entire state of Ohio, the only Speedways on GasBuddy above $3.799 are 8 Speedways in Toledo, all reported between 11:00 and 11:18 this morning by “jimmyjamz.”

    That alone is suspicious. Further, it is now over 2 hours later and Speedway’s website reports no stations anywhere in Ohio higher than $3.799. Speedway says its website uploads prices from stations every 30 minutes, which years of experience tells me is more or less accurate.

    So, I think those reports from “jimmyjamz” are either mass data entry errors or intentional vandalism (more likely the latter). His vandalism wasn’t limited to just Speedway. He reported $3.909 for at least 13 stations of other brands between 11:24 this morning and 12:54 this afternoon. His profile ( http://www.toledogasprices.com/Profile.aspx?member=jimmyjamz ) lists “Hobbies: sex.” So, I’m pretty sure this is an unreliable source of information.

    Speedway’s website is now listing 3 GasAmerica locations in Ohio, 1 each in Newark, Minster, and Findlay. These stations apparently are not fully integrated yet, because all their prices are “N/A.” Including the 3 GasAmerica’s, Speedway currently lists 461 locations in Ohio.

    Back in Michigan, that uncompetitive on DIESEL Speedway raised its regular unleaded gasoline (10% ethanol) price to $3.899 yesterday, but left diesel at $3.899. The station across the street raised its E-10 (“regular” unleaded gasoline) price to $3.899, but left diesel at $3.699. So, it has now been nearly 6 days that this Speedway has had DIESEL for 20¢ higher than its competitor directly across the street. I’m not pointing this out because I am a diesel buyer, but because it is interesting given how lightning fast Speedway is about matching competitors E-10 prices.

    On another issue, I wonder if anyone has worked out a BTU comparison for diesel vs. E-10? E-10 has lower energy content than 100% gasoline (E-0), which I believe has lower energy content than diesel (or something where diesel engines get more miles per gallon). Anyway, diesel at $3.699 vs. E-10 at $3.899 is really larger than a 20¢ gap, because the diesel gets you more miles. For example, AAA reports a national average E-85 price of $3.128, which is adjusted to $4.116 for comparison to E-10.

    That independent retailer I talked about before raised its E-10 prices yesterday to $3.799 for credit and $3.749 for cash, saving cash customers 15¢ over the competition at $3.899 for both cash and credit.

    The 12:37 update put the Chicago spot down 3.4¢ (1.12%) to $2.9976.

  3. Diether:

    My heartfelt apologies–you’re right! (I’ve seen stuff like that on the site before, but not to that degree–usually with only one station, like Speedway, where you can get the prices right off the web site. And many times, they are just trying to rack up points–they don’t show massive spikes.

    I promise to look closer next time, before I “cry wolf” again! 😉

  4. jimmyjamz has been banned.

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