Same old quickly up/slowly down story

Comment on the July 8 prediction:  Prices have continued to fall, so CORRECT.

Thursday, July 16, 2015, 7:30AM:  Energy (and gold) continuing their declines in the wholesale market, and gas prices have been (slowly) joining suit.  With CBOB Chicago at $1.75 yesterday, and ethanol at $1.61, I estimate a price to retailers this morning of $2.41.  That explains $2.44 in Lowell, but there are still a lot of prices over $2.70 around town.  C’mon!  Prediction: no price hike on the horizon.  -EA

Updated: July 16, 2015 — 7:10 am

27 Comments

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  1. Finding gas under $2.70 inside Cincinnati’s I-275 circle is still a challenge. The very best we can do is $2.63 in the Mason & Loveland areas by Costco and Sam’s Club. At $2.80 avg we need to drop at least a dime to get to outrageous.

  2. Cheapest on my commute(which is a 15 mile, straight shot, down US-127 – Hamilton Avenue), is $2.75.

  3. $2.36 up here where I’m working in LeBron country. Many other Cleveland stations droppping nicely. I wonder if the Greedway execs are taking out revenge on Cincy lol

  4. We frequently get lumped in with Kentucky. They’re probably inflating the average a little bit. But, the CHEAPEST on the board, in the city is $2.63, at Costco, in Mason, which isn’t technically Cincinnati.
    The cheapest ,NON-club price is $2.65 at a UDF in West Chester, also not Cincy.

    Cheapest with a Cincy zip code is $2.69.

  5. I predict a spike in Indiana if the spot doesn’t go down soon.

  6. I see the same thing happening Bill. I was hoping Spot would follow oil’s downward trend

  7. The group 3 (Oklahoma) shot up a lot at the end of the week. They could be having supply problems, and that could have affected us. We did go down a lot before trickling back up.

    Cincy fascinates me. I haven’t read anything, but a localized price increase like that usually points to an area problem. I remember Cleveland having something similar a year or two ago, and it wound up being a pipeline break, I think.

  8. The disparity between the Cincinnati average and the Ohio average has widened over the weekend to 12 cents. We have no chance if spiking for at least the next couple of days. Gas prices here could easily drop another 20 cents without any worries of a reset.

    One worry. Should margins in the non Cincinnati/Dayton areas of the state start to thin in the course of the week my guess is that we will join an Ohio spike anyway even though our margins don’t warrant it.

  9. If I had rack prices from Individual cities (they cost money, so I don’t) I would bet Cincy’s rack would be 10-15 cents higher than others in Ohio. The question is why? And if Ohio gets a spike, would Cincy do like NW Indiana, where they have to use RBOB instead of CBOB, and spike 10-15 cents higher than the rest of the state?

  10. Cincy sounds like Ann Arbor. MI average is $2.71 versus AA at $2.84. What’s the deal?

  11. Cincy sounds like Ann Arbor. AA average is $2.84 versus MI @ $2.71. What’s the deal?

  12. In Carmel, Indiana (the Ann Arbor of Indiana :)) we call this the Carmel premium. Many services are notably more expensive in Carmel than other surrounding cities…

  13. Turbo, you gotta pay all those taxes for the Palladium, right?

  14. 🙂

    Our taxes aren’t the problem tho. The so called “Carmel Premium” is.

    See, maybe I’m a run foil hatter and think evil of corporations. 20 odd years ago I was rudely introduced to zone pricing by Big Box discounters. I mean, do you really need to price baby formula higher in stores located in lower income areas? That’s what they did. Not everything. Just SOME ITEMS.

    A few years ago I noticed my favorite coffee creamer was 30 cents more in Carmel than in other stores like Noblesville. After a few months I went a relatively nasty email to corporate and sure enough they corrected it…

    That won’t work with Speedway I am afraid 🙂

  15. independent retailer

    Street is down and wholesale is up. Hike today is my guess.

  16. Well, local taxes do play a factor. As do property values. And traffic, heavier traffic means lower prices, especially when there is more competition. I was surprised to see Carmel so low when Speedway first opened it’s store at Rangeline and 116th. I always passed that intersection and got gas at 96th and Keystone on my way home. Looks like it’s now close to back to normal, even with a Kroger nearby.

  17. Wholesale was down a cent at close, but Indiana is not out of the woods, yet. A Wednesday spike is likely.

  18. That was one wild ride when the Speedway opened there in Carmel. There was a month long price war. But now back to reality. Surprisingly the new Soredway on 32 west of US31 is playing nice…

  19. A bit of a price war gas has broken out on the south side of Grand Rapids with Family Fare at $2.18 and a near by Mobile at $2.19. A dozen others are in the low $2.20s. This can’t last long can it?

  20. The lowest prices in Lansing right now are 2.38, and a lot of places dropped to that price yesterday from the mid 2.50’s. I filled everything up last night and used a 30 cent Kroger discount, which brought the price down to $2.08. I hope I did not act prematurely. Oil inventories were supposedly higher this morning and oil prices were dropping.

  21. Lowest in the Cincy area is $2.56(!!!). Average is $2.692, TWELVE cents higher than the Ohio average.
    Something foul is afoot.

  22. 12 cents is foul?

    Nothing doing in Indy, yet…

  23. I’ve been waiting for the shoe to drop….er prices to spike. Filled up everything early this morning. They needed it and the price was good even if things don’t spike just yet.

  24. Cincinnati hot only has the highest average in the state but as far as I can tell, the highest gas prices in the tri-state area of Indiana-Ohio-Kentucky. Cincinnati’s lowest prices shown is $2.53 which is higher than the average price of Cleveland Toledo, Columbus and Akron. Some of the Cincinnati stations have not budged from the GREEDway memo price.

    Dayton, Louisville and especially must have really done something to hack off GREEDway.

  25. So now gas pricing is PERSONAL?

    Wow. 😀

  26. Good to see you again Ren. I agree, I don’t think it’s any personal grudge by Speedway. I have been searching for some info on prices in Cincy being so high (and they are higher than normal, should be below the average of Ohio) but still haven’t been able to find anything.

  27. A paragraph stating ones case about Cincinnati pricing gets virtually ignored but an off-the-cuff in a meaningless sentence gets a reply. Holy Smokes Batman!

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