Roller Coaster Prices in July

Comment on the June 30 prediction:  Prices rose on Monday, July 2 in Michigan to $3.55, but only $3.45 in Indiana.  Two days later, $3.59 was the price in Indiana, but there was no second hike in Michigan.  I had the hike, and the date, but was a bit low on the price, so let’s score this 3/4 CORRECT, 1/4 WRONG.

Tuesday, July 10, 2012, 7:00PM:  Prices set for oil and gasoline in trading markets have been bouncing all over the place since June 28.  On that day, oil closed $77.69 a barrel.  Then on July 3, $87.66.  Today at the close, $83.91.  Gasoline has been doing a similar dance.  Add to the mix that it appears the retailers are trying to push their margins even higher when they hike prices.  When that happens, there is more room for prices to fall a few days later.  So, the best I can do this evening is re-set the numbers:  based on today’s closing prices, retailers will be paying $3.30 a gallon tomorrow to fill their underground tanks.  Past patterns indicate that they’ll go down as low as 10 cents below cost, so our floor is $3.20.  Prices in Kentwood are $3.32 today.  We might be setting up for a price re-set to $3.49 on Thursday.  Let’s call that a prediction.

Updated: July 10, 2012 — 6:52 pm

9 Comments

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  1. ChrisDG74, Cincinnati, OH

    We’re currently at an average price of $3.486 in SW Ohio. If we get a reset tomorrow, I say we get $3.59.

  2. It’s likely to be 3.59 so there’s been a pretty solid effort to see crude making it higher to ‘justify’ the hike regardless of ‘good’ news like the Norway strike averted or the usual Euro jitters etc.

    Interestingly enough, zone pricing seems to be shielding a lot of the Indy area from a huge spike as we’re already at 3.49 or so. Farther north (or in the right zones in Indy) it’s a good 15 cents cheaper at 3.35 or so.

  3. The Chicago spot finished today up 2.7¢ (+1.03%) to $2.6389. That moves the Michigan spike lines to:

    $3.371974 with Detroit +4.97¢ rack adjustment
    $3.322274 without a rack adjustment

    This week’s rack adjustment for Indianapolis is -16.47¢ and -7.8¢ for Cleveland.

    The Michigan average is currently $3.474. On Monday, the Speedway Michigan average was $3.4551, 5.19¢ below the Michigan average for all brands. If that difference is the same, the Speedway average now would be $3.4221.

    The only reason to raise prices tomorrow (July 11), is because it is a Thursday. A reset as high as $3.599 would be possible in Michigan’s lower peninsula.

    Current averages:

    $3.784 Chicago (highest in Great Lakes, 5th highest in nation)
    $3.570 Ann Arbor (second highest in Great Lakes)
    $3.476 Cincinnati (highest in Ohio)
    $3.446 Champaign (lowest in Illinois)
    $3.422 Fort Wayne
    $3.418 NATIONAL AVERAGE
    $3.400 Kalamazoo (lowest reported is $3.359 at Country Lakes General Store in Lawton, second lowest is $3.369 on Gull Rd. and in Plainwell/Otsego)
    $3.384 Akron (lowest in Ohio)
    $3.379 Grand Rapids (lowest in Michigan; lowest reported not at a membership club is $3.289 at Citgo on 3260 Eastern Ave. SE, second lowest is a bunch of $3.329s.)
    $3.341 Madison (lowest in Wisconsin)
    $3.275 Evansville (lowest in Great Lakes; no Speedways in Evansville)

  4. $3.599

    That is the price Speedway is resetting to this morning in Michigan’s lower peninsula. There is no indication of a reset this morning in Ohio or Indiana. Those states had significantly lower rack prices on Monday.

    The first reports were from:

    10:25 Hartland, 10070 Highland Rd.
    10:25 Kalamazoo, 3700 S. Sprinkle Rd.
    10:26 Comstock Township (Kalamazoo), 2375 S. Sprinkle Rd.
    10:26 Davison, 1177 S. State Rd.
    10:34 Davison, 4019 N. State Rd.
    10:34 Flint, G-5550 Fenton Rd.
    10:38 Mattawan, 24118 Cole
    10:42 Holland, 746 Chicago Dr.
    10:43 Holland, 800 S Washington

    Some Speedway stations in southeast Michigan are going up to $3.659:

    10:28 Waterford, 2200 Dixie Hwy.
    10:29 Clarkston, 6594 Dixie Hwy.

  5. Andrew Traverse City, Michigan

    Greedway was on time with the hike to $3.599 from $3.369 at 10:30am. Everybody else will follow the rest of the day. I got gas at Sam’s Club for $3.319 to top off my take.

    I won the gas game because of this site today, but still lost because $3.319 is still too high.

    Michigan might be the only one seeing the hike since we luckily got skipped for the 2nd hike after the 4th of July.

  6. In 48312, my local area greedway, is still at $3.43. Very few of the stations in this area of SE Michigan went up. Thank god. I did warn my family to keep topped off before it goes up.

  7. Speedway has gone right back down in the past couple of days here in the Lansing area, which is why I NEVER buy gas at the hiked price. Many stations are down to either $3.42 or $3.49.

  8. Are we having a price reset today? I see a speedway at 3.59 in wyoming.

  9. Yes, exactly one week later, Speedway reset back to the $3.599 it was last Thursday in Michigan.

    Thursday used to be the traditional day to raise prices, because 60% of gasoline sales are traditionally made on the weekend. Now, it is more common for gas prices to go up on any day Monday through Thursday, with an occasional Friday. Saturday and Sunday resets remain extremely rare.

    If it gets to Thursday without Speedway resetting within the prior 3 days, always beware of a reset if the price is within 15¢ if the spike line.

    The Chicago spot finished today up 5.55¢ (2.09%) to $2.7139.

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