Conditions favorable for another hike

We made it through the weekend and survived Presidents Day, but I’m thinking there’s a shot at another Spike in the next few days. The average retail price has peaked and started to drop since the last Spike here in Ohio. Combine that with the huge jump in spot prices last week and we’re sitting right on the Spike Line price again. $1.799 is a possibility. Prices aren’t what they were a week ago, but they’re still lower than $1.799. Hedge your bets if you’re getting low.

Updated: February 16, 2016 — 6:51 am

44 Comments

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  1. And like clockwork, there go the prices upward with the spike, at least in IN, MI and OH to $1.79 with Big Red leading the charge per usual

  2. Greedway leading the charge in Indianapolis to $1.799 as well.

  3. Yep, Speedway taking the lead in South Bend IN to $1.79.

  4. Crude under $30 again and drop in spot, might as well lock in the gains…

  5. This will be wonderful when summer blend comes out and we are in the $2.75 range with crude at $30!

  6. You nailed it Tim. Was able to stop at Costco East side of G.R. Filled a 5 gal.can and topped off my 30 gal tank, saving almost $6.00.

  7. I just saw a report on TV that said gas prices are going down nationally. Guess they forgot to look at Indiana lol

  8. …and Ohio, Kentucky, Illinois, Michigan and West Virigina, a.k.a. Speedway country.

  9. And did the gouging late in the day, not 10am, in Toledo!

  10. Bang on cue in the RT 20 NW Ohio corridor..1.799 and most stations joined in early so slim pickings finding a station that didnt join the party early. Little deviation on way home into the country (wonderful with the snow covered trees I must say)..and 16 gallons in the Jeep at 1.499…..

  11. Glad the Kroger/Speedway/Mobile by me are always at war with each other and tend to spike a day late. Gives me that chance to not get hit by the spikes. 35 gallons at $.49 wasn’t as good as last weeks 35 gallons at $.31, but now all the vehicles are topped off.

  12. just checking prices ahead of the Monday commute and the decision to wait/fill up/top off

    prices in rt 20 corridor ranging from 1.58-1.70 right now,,15-25 cents over spot…so possibility of a little way to fall yet. I think Monday/tuesday spot might give an indication of whether we drift down a few cents this week or spike again – this time to 1.899

    any of the experts been polishing their crystal balls this weekend??

    what about that weather yesterday?..68 degrees here..almost got the grill out….

  13. Looks like we could have another price increase soon as oil
    jumped big today,… I got in at 1.67, but I would not bet on tomorrow,..
    Better tank up today folks,..!!!

  14. Saturday was nice. I washed the cars, they were long overdue.

    I’ve posted numbers and spot is up, and Tuesday is a good/usual day for a spike, so you guys may be right.

    http://www.thegasgame.com/features/today-in-oil/
    http://www.thegasgame.com/features/the-spike-line/

  15. topped off at 1.55 this afternoon- right on the spike line think the spot price jump just sealed the fate – 1.899 tomorrow looks like….

  16. That puts the spot-pump spread below 70 cents in Ohio.
    $1.899, we’ll see ya soon.
    Getting closer to that $1.999 I’d say we’d see before we’d see 0.999….

  17. Surely Big Red would never let gas get below a buck. Won’t be long before we say farewell to “1” as the first digit

  18. Spike to $1.899 underway in Ohio.

  19. ….. And there it is.

  20. Can’t wait for the 99 cent/gal gas to come to Cincinnati. We only have 90 cents to go.

  21. At least this year it seems they haven’t been in a hurry to bring the price up, and also they haven’t been keeping the prices high for long post spike.

    Of course they can quickly change both of those.

  22. On the drive home this evening I did not see one station that wasn’t $1.89. The GREEDway memo must have been very terse this time.

    By tomorrow afternoon I would expect the Cincinnati to be around 92 cents over spot.

  23. I’m really surprised that we didn’t go up yesterday in Michigan so they could get every cent from people filling up because of the snow storm. But I don’t think we will be that lucky today. Come on media, tell us again how the price is going to drop.

  24. Most prices east of Ann Arbor are still in the $1.59-1.69 range and, according to GasBuddy, falling.
    Also falling is the snow, which hasn’t let up since about 7:00 am. We’ve got 5 Samoyeds and they are loving it. Bad news is the weekend warmup. We’ll be at a dog show and it’s going to get really sloppy. Sunday is forecasted to hit 50 degrees. So much for hitching them up to a sled and saving on gas.

  25. Judging by GasBuddy, I think a spike to 1.79 might be underway in Lansing. I filled up everything I had this morning for 1.46-1.53 using Kroger points.

  26. Going back up to $1.799 in Indy and the surrounding areas.

  27. Jeff: I got two Siberian Huskies. Use the sled harness amd a Flexie Leash, and your bike. Loads of gas saving fun at 23 mph. So long as the temp stays under 55.

  28. TimmP, we’ve thought about ski-jouring on our cross country skis but are a little leery of what might happen if/when we spook a deer or even a squirrel/rabbit. Yikes!

    In other news, the Saudi Oil Minister said in Houston yesterday that S.A. is prepared to let oil prices drop to $20/bbl.

    http://www.theweek.co.uk/oil-price/60838/oil-price-spike-is-coming-but-not-for-years

    That is surprising since I read an article Tuesday that if prices remain where they are that S.A. will go bankrupt by 2018.

  29. South Bend IN – Speedway to $1.79. Was ~ $1.57.
    No movement in Niles MI just yet.

  30. 1.79 in Kazoo area now..

  31. No alert from GasBuddy but several stations east of Ann Arbor have risen to $1.79, led by Speedway and Meijer. Everyone else is holding. With the weather we’re getting I doubt many will venture out to fill up anyway.

  32. Some stations in the Lansing area are still holding in the $1.55-$1.69 range.

  33. Well from the looks of where the Chicago spot has jumped in the last few days, I think the “1” will soon be replaced with a “2” at the beginning of the price per gallon for gas. It was really great while it lasted and I really didn’t think I would ever see it again.

  34. There was a poll last month on what do you think we would see first $.99/gal gas or $1.99/gal gas. I chose the latter instantaneously.

    Seriously, was there any doubt and especially for us, it looks like GREEDway will be soon rolling out the Cincinnati/Dayton 10 cent Summer surtax.

  35. It seems crude and pump prices in our region are severely disconnected. $1.99 gas on the way with what should be $1.39 gas from a crude point of view.

  36. I don’t think anyone with at least a room-temperature IQ actually believed we’d see 99 cent gas around here. We’d have a better chance of all winning the lottery.

  37. From today in Reuters, oil hits a 7 week high based in part on supply disruptions in Iraq and Nigeria. Also, a draw down on U.S. inventories of gasoline. It speculates that low prices are spurring more use of gas but could it really be the run cuts Patrick DeHaan alluded to earlier?

    http://webcenters.netscape.compuserve.com/pf/story.jsp?idq=/ff/story/0002%2F20160226%2FKCN0VZ03T_7.htm

  38. Run cuts are immediate. Actual usage demand increases are gradual.

  39. 1.78-1.85 in the rt 20 corridor – lower end uncomfortably close to the spike line again – any upward tick in spot fri/mon should seal the 3rd tuesday spike in a row – only question will it be 1.99 or 2.09 ??. with summer blend about to hit the ‘pipeline’ $2.09 next week is my bet….

  40. I just read an article on Southern California gas prices spiking 30 to 40 cents over the weekend due to the summer blend switchover. I wonder if Speedway is planning to move into their market lol

  41. The GREEDway spike from this past Tuesday is holding fast, at least in my Toledo suburb (which seems to have lost the zone-pricing lottery this time around, at least in close proximity to I-75). The GREEDway down the street is still at $1.899,

    Finally decided to join the Rewards program to lock in the pre-spike price if you fill up before midnight on an “adjustment” day–proof to the adage of there being honor among thieves??!!

  42. Given tonight ‘s spike line, and the run cuts, I think we are just about done with sub $2 gas. Be nice to be wrong.

  43. couple stations in the RT 20 corridor fell to 1.679 tonight..historically the spike is around 30-35 cents from area lows which would give a 1.999 spike next

    given the spot fill up in the morning..watch for ‘big red’ to hit the lever starting at 10.00am in the morning. I thought we might get a ‘super tuesday’ 2.099 spike, but it looks like 1.99 coming tomorrow

  44. Yep, tomorrow’s spike will bring us to $1.999 in Ohio. I think, a few weeks ago, someone here predicted that we’d see $1.999 before $0.999…
    Who could that have been???

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