We saw the NYMEX/Chicago market price fall to it’s lowest level since 1/30/13, to $2.8713. This is down from $3.0786 on Friday, and a high of $3.1095 on 2/15/13. Is relief in sight? The market has been very volatile recently, with wide swings of prices from day to day up and down. The last two days we saw drops of 8.73¢ and 12¢, with another drop of 10.67 from the 19th to the 20th. Prices went up more than 5¢ four times in the last month, with a high of 14.87¢ from the 13th to the 14th. So it’s hard to tell whether these low prices will fall more, even out, or go up again.
The average back in 1/30/13 was around $3.55 depending on your state. The average now is around $3.85. Spike Line margins are also very high, from 26-30¢ Expect pump prices to fall tomorrow, and barring some sort of volatile move upward in the market, we should see prices fall through the weekend.
A note about the direction of the Spike Line going forward. I am working on the formatting of the page here to make it more readable. You should see something on that here in the coming weeks. Also, when I roll that out, I will also roll out daily Tweets and posts to the Facebook page. Your feedback on this is greatly appreciated.