“Supply Squeeze” in the Midwest

Sunday, July 29, 2012, 3:00PM:  Just got back with the family from the Cheboygan area.  No gas wars there — prices were the same $3.59 everywhere at the beginning of the week, and the same $3.65 at the end, after the mid-week re-set.  Now, what is going on this coming week?  Stocks soared on Thursday and Friday, so energy prices went up, too.  Combine that with reports of refinery troubles here in the Midwest, and we’ve got a raw wholesale price of $2.90 or so today, leading to a cost to retailers of about $3.60.  In Kentwood, with prices at $3.37, it is hard to see them going any lower.  A lot of places are $3.59, though.  So, my advice is to buy gas in Kentwood, and expect a new price in the $3.69-$3.79 area on Monday or Tuesday, due to this “supply squeeze”.

p.s.  I have started a new blog for some thoughts on politics, sports, and the stock market.  One of my first posts regards replacing the All-Star Game with something else. -Ed

Updated: July 29, 2012 — 2:55 pm

9 Comments

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  1. $3.79/gal today in Grand Rapids

  2. ChrisDG74, Cincinnati, OH

    Speedway resetting to $3.699 in Ohio.

  3. Reg. Just jumped 35 cents to 3.79 just after 3:30 today in Jenison Mi

  4. I think we will see another hike in the upcoming days this week. The Chicago spot is up another 10+ cents today. Will we make it to $4.00 a gallon?

  5. Got another hike today, after one yesterday…..

    $3.53 Sunday.
    $3.79 Monday
    $3.94 Tuesday

  6. Filled up both vehicles for $3.38 in Zeeland yesterday before they hiked at 6pm, so I am good for ~ 2 weeks if needed. What a mad rush…

  7. Just this morning, I noticed that a Speedway location in Lansing, at 2000 Lake Lansing Road, is up to $3.87. Their diesel price is up to $4.09, as those prices too have been on the upswing in recent days. The Mobil to their east, at 2704 Lake Lansing, is up to $3.94 (without a wash). I am holding off until I am at E again, as I am not paying $3.7x+ until I have to.

  8. When we were paying $4 gasoline with $100 oil nobody made any mention of it. And now we’re surprised we’ll be paying $4 for $90 oil?

    Perhaps the long term goal of the Speedway pricing games is to make us feel good about saving $3-5 per fill-up without paying much attention to the fact that prices went from $3 to $4 in a heartbeat all while oil went from the high $70’s to $90.

  9. ChrisDG74, Cincinnati, OH

    Just got the gasbuddy(sorry for the plug) email. $3.899-$3.999 tomorrow. Guessing the lower for Ohio and the higher for some other states.

    Ain’t $4 gas great? /sarc

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