They call it TPHT

Comment on the January 28 prediction:  Right on the money, as prices rose last Thursday to $3.39.  CORRECT.

Wednesday, February 5, 2014, 7:45PM:  Wholesale prices are right where they were at the last price hike, but retail prices have fallen from $3.39 to as low as $3.13 in Cedar Springs.  Seems like it is Thursday Price Hike Time, back to around $3.39 I predict. — Ed A.

Updated: February 5, 2014 — 7:43 pm

34 Comments

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  1. Guess they’re waiting for today.

  2. $3.39 started in SBN yesterday

  3. There 4-5 postings at $3.49 this morning in Grand Rapids and now they are gone this afternoon?

  4. No spike apparent in Indy. There are sporadic stations under $3, and less than a dozen at $3.39.

    The average $3.213, down 1.5 cents from yesterday, and down 7 cents from this time last week.

  5. NYMEX RBOB is up over a dime today as of 250 CST, although in morning trading Chicago spot prices were lagging the NYMEX rise by several cents. A dime increase in wholesale might push Speedway into one of those rare Saturday hikes.

  6. Rare Saturday hike by yours truly Greedway up to $3.499

  7. Thanks for the update, Huber. I knew we were on the cusp of a hike, but it was hard to pin down date and new price. Friday’s jump in oil and gas was the clincher.

  8. I saw two stations in Lafayette yesterday drop 10 cents to $3.09. I guess that will be short lived. Gas Buddy says Indiana’s average gas price one year ago at this time was over $3.70 a gallon. Something tells me the next jumps wont be as gentle as what we’ve been seeing over the last few months.

    Not the next spike, but the one we get during the last week of February will probably drive us back up close to or at last year’s levels ):

  9. $3.459 in sw Ohio. 10am spike underway.

  10. Saturday morning price hike in Chicagoland. Didn’t think their margins were quite low enough for that but was certainly expecting one Monday,

    Chris…
    This is the time of year Midwestern prices always take off (sometimes a little earlier than this)

  11. >>No spike apparent in Indy. There are sporadic stations under $3, and less than a dozen at $3.39.

    That’s how it starts. Some stations get an email to raise prices — a big jump is called a restoration — and then other stations usually* follow suit after doing surveys. Plenty of stations hold back until they get a delivery… my Kroger does this.

    *I’ve seen restorations fail, a price jump not supported by other stations in the survey area. After a coupe hours the price falls back down.

  12. 50 cent a gallon jump, went from $2.95 to $3.45 ! OUCH !
    My wallet !
    NW IN (47957)

  13. $3.45 in South Bend on Thursday, some took a day or 2 to follow Speedway

  14. Indy’s spike was about 23 cents, with the average rising from $3.20 to $3.43.

    It seems more realistic to me to track the increase in AVERAGE prices, instead of counting the largest spike I can find among all individual stations. It’s not a big deal to me if a single station spikes 50 cents if pretty much everybody else spikes less than half that amount.

    But we each have different ways of looking at things, and that’s okay.

  15. “That’s how it starts. Some stations get an email to raise prices — a big jump is called a restoration — and then other stations usually* follow suit after doing surveys. Plenty of stations hold back until they get a delivery… my Kroger does this.”

    It’s usually pretty different here in Indy. Typically, a spike happens among a majority of stations in a fairly short period of time (maybe 12 hours). The laggards are usually more sporadic, and if the spike holds, they’ll fall in line by 24 hours, or 36 at the latest.

    In other words, most spikes here are fairly “en masse.” It was unusual for me to see only 10-12 stations at the high line. It leads me to believe it wasn’t even a spike yet — perhaps those stations hadn’t really come down since the last spike.

  16. Part of an interesting article I was reading.

    With crude oil falling in price, more price declines should be ahead for United States Oil and other securities in the sector. There are three reasons why long term investors should be pleased by this price movement.

    Oil was driven up in price due to speculative forces as a result of quantitative easing. Testifying before Congress, Rex Tillerson, CEO of ExxonMobil (NYSE: XOM), stated that, based on demand, oil should be in the $60-70 range. At that time, it was closer to $100 a barrel. Speculators were making oil much more expensive for the productive elements of the global economy. For the many oil importing nations across the world, it now becomes cheaper to fuel economic growth.

    Read more: http://www.benzinga.com/trading-ideas/long-ideas/14/02/4290828/3-reasons-investors-should-applaud-the-falling-price-of-oil#ixzz2t7KiVS76

  17. Well here is another interesting article !

    http://www.bloomberg.com/news/2014-02-12/gasoline-profit-seen-gaining-in-u-s-as-refineries-shut-energy.html

    Another ‘shortage’ in the offing ? Look to higher prices ! YEA !

  18. So, why would you put “shortage” in quotes?

  19. LOL – I was just going to post that article, too!!!

  20. Another Saturday gas spike to $3.55 today in Grand Rapids

  21. fordescort is right. G.R. Gasbuddy is reporting $3.55 at a (wait for it) number of area Speedway’s. Two Saturdays in a row!!!!!
    Time to get to Kentwood Costco $3.27.

  22. $3.55 in Kalamazoo. Two Saturday gas spikes. Well, that sucks.

  23. They call it SPHT now. I’m working in the Cincinnati area currently and see increases on both sides of the river. Up to $3.55 back home in Indiana I noticed on Gas Buddy. Next spike will be north of $3.70 unfortunately.

  24. Hike triggered by an 8.8 cent rise in spot prices Friday and resultant spike in wholesale overnight

  25. *** Sunday *** in Toledo!!!

    (Sunday!!! WTF??!!)

  26. Spiked to $3.55 in South Bend on Saturday

  27. It is clearly evident where Speedway’s influence ends, at least in Kentucky. Somerset exit on I-75 – $3.099(at noon yesterday). Berea exit – $3.459. Guess which exit has a Speedway…..

  28. I was just down there ChrisDG74 and noticed it too. WTI Crude shot up nearly $2.50 a barrel today so I would not be surprised to see Chicago Spot hit $3.00 soon. Maybe this Thursday for another hike?? I’m gonna tank up both vehicles tomorrow.

  29. I was just on Gas Buddy for Grand Rapids. Shows prices “falling” yet, the highest price gas at several stations is $3.55 – does anybody know if this is right – are we getting another spike today? Marathon/BP/Mobil/Shell/Citgo – mostly Marathons with the higher price.

  30. Wholesale/retail spread for Ohio is once again below 70 cents, which seems to be the trigger for spikes lately. I suspect we’ll see another one, between today and Saturday. Ohio will jump to at least 3.499.

  31. That means $3.65-$3.69 around my parts in Indiana unless they go “gentle” which means $3.59. And we all know who will be the first to spike.

  32. Gas has been on the $3.50s in South Bend all week since the Sat. spike to $3.59

  33. Is anybody else having trouble with Gasbuddy web site this morning?

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