Go And Fill Thy Tank
46 comments Monday, 01-14-13 | Posted By Ed Aboufadel | Predictions
Comment on the January 2 prediction: Prices did slide until Monday the 7th, and then they rose to $3.39. CORRECT!
Monday, January 14, 2013, 7:00PM: Wholesale prices haven’t been doing much of anything so far in January. Since the price hike a week ago, retail prices have been sliding nicely. This brings us back to the point where we were when the last hike occurred, and we are all set for a price hike to the $3.39-$3.49 range, on Tuesday or Wednesday. Fill up!
No hike so far — call it WRONG.
Today’s Thursday. Could still happen. Topped off @ $2.84 just in case.
In Traverse City Shell Station went up Wednesday from 3.10 to 3.17 but back to 3.11 so it was a failed attempt from Shell to start a hike.
Daleville, Indiana was one of the few “survivors” that didn’t raise their price last week. As a matter of fact, their’s continued to drop the whole time and is now $3.05. I think it might be time to fill up all the lawn mower cans as well because if I wait until April, I’m sure I’ll be paying $3.80ish.
This is kinda unheard of for Greedway states to go this long without a big spike. WTI is up over $1.30 today alone on some bogus “Algeria Hostage Crisis” deal. Could be one of them mega 45 cent spikes Greedway is known for coming our way very soon. After all, I’m sure these current prices are just killing their profits LOL.
Yesterday WTI was up on, and I quote(from CNBC) “US Demand Hopes”.
Yeah, let’s not anything like reality get in the way of a good oil rally. Reality being US demand is at a 15-20 year low.
Looks like Michigan is spiking this morning. Seeing a TON of $3.359 within 50 miles of Detroit.
3.35 in Kalamazoo now
Nothing in Ohio yet. I’m sure we’ll see $3.299 in the next few hours.
Goodbye t the $2.84 I paid this morning. (*sniffle)
According to the Speedway website, my local Speedway’s in SE Michigan haven’t moved yet, but it appears that Meijer did. Speedway varies from 3.35 to 3.08, within 5 miles of each other, and only 1 station at the 3.35 price.
Nothing in Ohio yet. Guess they’re waiting until tomorrow.
Spot’s up 8 cents, so you can bet your hind-end, we’re ALL going up.
Speedway started the rollover around noon. By 12:15 90% of stations had followed suit, average bounce, 31 cents. as of 1 pm, there was a single admiral station in the center of town that was still at 3.04 ( and doing booming business) I filled the old station wagon, and the various snowblower cans in time thanks to the heads up here. Thanks as always.
And, as predicted, Greedway is jumping in Ohio this morning.
Memo/collusion price is $3.359
Meijer sent another announcement. A couple of Greedways in Indy are up to $3.49. The profit march to $4.00/gallon has begun once again. The Greedway groundhog has seen its shadow and predicted another expensive gas season…
IL,MI,and IN jumping today. Guess OH and KY will jump tomorrow, like last week(a day later).
Caledonia D&W is @ 3.48 Happy Inauguration Day to all of you!!!!!!!!!!!
Great metaphors, Turbo!
And what the hell is the reasoning for the second hike???
The reason for the second hike is that gas at the rack costs about $3.21/gallon. Stations selling it at $3.25 in W. Michigan. Doesn’t even make enough to cover the credit card fee. $95/barrel oil in a bad economy. Fed keeps printing more money to cover Obama’s trillion dollar deficits and the dollar keeps getting weaker.
Speedway executives want to buy a new jet.
Usually I get a reach-around when I get molested like this. If we hit $3.499 today, that’ll be 65 cents in 4 days.
$3.499 already in SE Ohio(which usually tracks WV).
We’ll see what the rest of Ohio does today.
David, I’m more on track with your thinking – LOL!!!
Jefferson on Jan 21 above is right. He has about half of it. The other half has to do with excessive regulations on drilling pumping it out of the ground, and processing the crude in this country. Let’s not forget zone pricing. It all adds up to the fact that for 3.5 years now we have gotten used to $3.50 a gallon, bend over, here comes the new $4.50 normal this summer.
Still nothing in SW Ohio. Maybe they’ve learned from their last 3 spikes, all of which were total disasters(for them).
Of course, now watch they’ll jump this evening.
Traverse City, MI jumped that day to 3.499 then in just a few hours Greedway surprisingly retreated back to 3.359. Hmmmm Gouging??????
Took a few days, but $3.459 is the new price in SW Ohio. Stations are resetting this morning, starting about an hour ago
Appears that Greedway’s doing their thing in Toledo, OH–$3.459 seems to be starting to take hold (and not in just certain areas, unlike some previous spikes).
Oddly, there are some stations in this area (and not Greedway) that sometimes “preview” the coming spike–I saw three stations yesterday at this same amount while everyone else stayed low. They’re not the same stations, either, but certainly a good “early warning” to top-off ASAP!
are we looking at another Monday reset with spot being up again?
I’m traveling right now, which is why I am slow to post. Tiremanzeke, I’m concerned about a Monday hike, too, but Tuesday is more likely.
Might as well, we can’t get into $4.00 territory without some action now…
Figuring on $3.599 in Ohio Monday or Tuesday.
Glad I traded in my SUV yesterday.
SE Ohio has already spiked to $3.599 this morning. Expect all states will get hit today/tomorrow.
Some stations in Grand Rapids are up to 3.59. YIPPEE!
Yep, same around Kalamazoo…
With spot up to $2.77, who wants to lay money on whether or not we get a THIRD spike in a few days?
ChrisD –
You thinking 3.69 or 3.75?
Or could this be the time they go spot + $1.00 and hit $3.79?
By the time the 3rd spike hits, spot could be $3 at the rate it’s going.
Could end up as high as $4 retail ($3.999).
New York Wholesale was at $2.94. Chicago has a ways to catch up, and rest assured the Mid West cannot pass up a chance to be at least as expensive as the highest priced region.
$3.50 by the end of Jan, $3.75 by the end of Feb and near $4 a gallon by the end of March. Rinse then repeat. It’s the same old song and dance every year to rip us all off.
blazing fast hike yesterday in Flint, all 3.29 stations were uniformly 3.59 in under 15 min.
since this is gas bought by wholesale at last weeks price, how can it NOT be pure profit all around?
$3.59 in Toledo, pretty much throughout again. (Though I was wrong in last week’s post about the scope and coverage of the immediate spike–managed to find a Shell on the way home from work that hadn’t spiked yet. Won’t happen today, likely, but who knows!)
Though GasBuddy tries their best, and though they sometimes arrive the day preceding a spike (which I assume would be easy to predict if the spot price took a big jump, or if the price/bbl. jumped $10, in one day), the “Gas Price Hike Alerts” are sometimes about an hour late! They usually spike the prices ~10:00am in the region, and the message just hit my Inbox at 11:30!
Now we have a DOUBLE SPIKE! Saw a station between Muncie and Anderson, Indiana that went up from $3.20 to $3.39 yesterday. I guess that wasn’t enough, so today it went up from $3.39 to $3.59. How nice of them!!
I checked Indiana average gas prices for Feb 1st (since we’re almost there) for the past few years and wow….sure wish my paycheck was matching these steep increases in percentage.
Feb 1 2010…$2.65
Feb 1 2011…$3.13
Feb 1 2012…$3.40
Feb 1 2013…$3.54
In two more years or so, $4 will become the new $3 and we’ll get all excited when gas prices plummet to $3.95!!!!!
$3.599 has hit sw Ohio.
$3.759 coming in a few days, with spot at $2.81 right now.
Chicago spot has made large gains today, up to $3.04 a gallon. I’d be surprised if we make it past Monday without a gas hike.
$3.04 spot equals $4.00 ($3.999) retail, using their recent spike formula(spot-plus-95 cents).
Maybe they’ll be nice and only raise it to $3.89 lol