Last week was weird. Last week when I posted, the numbers pointed to a possible spike, and I called for one to happen. Well, it didn’t… except for Michigan. They did spike, but on Tuesday. So I was wrong in my prediction.
Right now, however, margins are all 17 cents or more. That’s not good, and we are ripe for a spike. What I think has been holding us back is the fact that with Chicago Spot so high, we are actually getting supplied by the Gulf Coast and their lower price. And we are still riding an artificial high since the storms and pipeline and refinery shutdowns. That being said, Gulf coast isn’t so much lower that we would avoid a spike.
So where will we go? Number indicate we could see anything from $3.899 to 3.999. Ohio would be about 10 cents lower. Keep an eye on the pump prices tomorrow so you can get gas while it’s cheap.