Don’t Be Lulled

Comment on the October 25 prediction:  Prices fell all week, so pretty much CORRECT.  Then we got that hike yesterday.  Boooooo!

Comment on coining a term:  I liked ChrisDG74’s “Greed Grab” the most of the entries that were posted.  I may start using “Fat Fingered Greed Grab” for those twice-a-year faux hikes.

Sunday, November 1, 2015, 10:49 AM EST:  The problem with gas prices under $2.75 is that it is easy to get lulled into a sense of complacency.  Friday night, I updated my spreadsheet and saw that we had moved into price hike territory, but I thought “Eh, some time this weekend I’ll post something looking ahead to Monday.”  Of course, that was WRONG, because prices rose on Saturday morning to $2.49 here in Michigan.  It wasn’t a Fat Fingered Greed Grab, though, just the usual Grab.  Moving forward, we have two cross-currents from now until Christmas.  Historically, the next eight weeks are usually a time of declining gas prices.  But given the bounce off of the recent lows in the energy and stock markets, we may have more room to run higher there.  Maybe these two dynamics will cancel each other out, and we’ll average $2.39 from here to Christmas.  That’s not a prediction, though, just a thought. — Ed A.

Updated: November 1, 2015 — 10:56 am

14 Comments

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  1. yes..we got the weekend spike to 2.39 in the Ohio RT 20 corridor yesterday also

    still..looking at this time last year as oil price headed down toward $50 we were around 2.80 but falling daily into December 2014 when it bottomed around $1.80 a gallon..same trend this year? still hopefull of the sub 2.00 a gallon..boy we got sooo close couple times last month….

  2. What’s funny is, I can still get gas for $1.899 today, if I wanted to drive to Oxford, Ohio. They apparently have missed both of the spikes this past week.

  3. Chris, same thing where I live. The spike had nada effect in Lawrenceburg, just like the last one. All stations on US50are between $2.05-$2.11 except Ameristop at $2.19.

  4. We’re 90 cents above spot right now. Must be some pretty expensive Christmas gifts on the list this year to pad it that much. Back in January spot was around $1.15 and gas was $1.70…..hmmmmmmmmmmmmmm

  5. Ohio was about 70 cents above spot when Speedway spiked Saturday. Usually they wait until we’re 60-65 over. Guess it was more efficient to do everyone on the same day, than stagger the spikes.

  6. The $2.39 where Fort Wayne stations are is only 10 cents below interstate trucker diesel ca$h price at Fort Meyer Truck Stop. When things are in “equilibrium” there should be 20 cents difference. AND I see spot is still going up. What is with our region?

  7. “What is with our region?”

    *cough *squirrels* *cough

  8. I heard they’ve switched back to summer blend this week since it’s so warm out TimmP lol….maybe that’s behind the rise in spot

  9. Greed Grab is fine, but skip the Fat Fingered — that implies it is a mistake. But Speedway knows exactly what it is doing! That’s why I suggested Greedway Spike, as opposed to the usual “normal” Speedway Spike. So Greedway Grab would be even better.

  10. Maybe the Summer driving season ends here when it doesn’t get to 70 degrees any more. I’ll give it another day and we will be spiked, fat fingered or GREED grabbed to $2.49.

  11. spot price falling faster than the leaves today I see..
    there is some very bizzare pricing in the rt 20 corridor this week
    some areas missed out(or forgot?) on the weekend spike last weekend giving a ranage of pricing from 2.12- 2.39 today over a 20-30 mile geographic range – sometimes having to drive/commute long distances does have a few benefits- like being able to save $.30 a gallon filling up 20 miles down the road…

  12. Spot back down to 1.40.
    Which refinery is scheduled to have an “issue” next?

  13. The smaller Lemont refinery had a case of flaring the other day, except the flare didn’t burn and stunk up the surrounding area. Spot prices dropped 13 cents.

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