Just Usual Nauseating Escalation

Comment on the May 25 prediction and post:  CORRECT about no hike, but WRONG about giving @onetoughnerd credit for playing The Gas Game.  The quote was actually from GG Alum Patrick DeHaan.  Holy Antecedent Error!

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June 1, 2016, 8:30PM:  New month and wholesale prices reset … higher.  We saw a 7 cent jump in Chicago wholesale prices today, and the same jump in ethanol prices.  Meanwhile, retail prices have been slipping, so we have entered the price hike zone.  To top it off … tomorrow is Thursday.  Fill up by 10AM! — Ed A.

Updated: June 1, 2016 — 8:24 pm

24 Comments

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  1. Fortunately just 5 miles from my house is the cheapest gas in Indiana at the moment at $2 bucks even. Guess I’d better prep the 1500 gallon tanker for a fill-up lol.

    Another 25 cent increase in spot and some locations will see $3 bucks a gallon…yikes! I’m currently at a hotel in Covington Kentucky near a couple of Big Red stations “proudly” displaying $2.59 currently. Looks like $2.79-$2.89 for them

  2. 2.699 spike under way in Ohio…

  3. Big Red has issued the spike. Looks like Indy/Indiana gets $2.59, Michigan goes to $2.65, and Ohio gets the big spike prize of the day, going to $2.69

  4. South Bend IN spiking to $2.59. Avg was $2.379. Was $2.41 at both ND Speedways this morning.
    Costco $2.25.

    No spike in Niles MI yet.

  5. Mike - Kalamazoo

    Greedway going to 2.65 in Kazoo area..

  6. Yesterday’s Speedway spike price of $2.699, puts Ohio 34 cents above the national average.
    Its officially Summer.

  7. Mike - Kalamazoo

    Well Chris, if it makes you feel any better, some of the southern states my relatives live in had a big jump too,(.05) cents to 2.11. Only in Greedway country does this happen.

  8. How many people realize just how FEW spikes it could take till we are at $3.00? And how easily that can happen?

  9. I’d say Ohio hits $3 ($2.999) in three weeks, especially in the Cincinnati/Dayton are where GREEDway likes to tack on a 10 cent surcharge to the spikes in the Summertime. Most recently we’ve inched up 10 cents a week.

    I’ll go with 3 weeks…unless we have a squirrel attack at Whiting.

  10. If BP Whiting goes offline due to a rodent attack or other unforeseen circumstances, we’ll be at $3.50 in no time flat. During last years’ outage gas shot up around 90 cents a gallon in less than 72 hours.

    I’ve spent quite a bit of time in Alabama and Georgia (non Greedway states) and a large spike for them is about 5-7 cents like Mike mentioned. Of course that equates to 30-40 cents for us unlucky Greedway territory folks. Speaking of large spikes, Anderson Indiana saw some stations go up 49 cents. Yes, that’s a 49 cent jump with no outage at Whiting. Big Red sure does have us by the you know what.

    Can’t wait to hear Turbo chime in when crude is still in the $48 dollar range and gas hits 3 bucks a gal, because it sure looks like it will happen

  11. Well the pipe line leak in west mi should get us close to $3 if not more.

  12. This almost feels like Speedway is daring us to do something… “here mortals, kneel before me at the slurpee machine temple”.

    We fell for it for decades. We can go on a bit more…

  13. Sucks for them: I have never had a Speedy Freeze.

  14. The average in Toledo is $2.609–if you know where to look. Still holding fast to $2.699 most places, though a few starting to break lower.

    $2.999 by the weekend.

  15. A couple of nearby stations have dropped 8 cents to $2.41. It will probably drop another dime or so which is when Big Red will crank it up across central Indiana to $2.69 on Thursday I’m guessing. We’re just 17 cents below the state average as compared to early June last year.

    Looking at the one year chart, Indiana had a real nice 5 week slide beginning last July. It lasted until those two dreaded words were spoken… “refinery outage”

  16. Comedy=On

    Meanwhile, in a parallel universe… http://www.wibc.com/news/local-news/why-youre-paying-so-much-gas-indiana-has-seventh-most-expensive

    <<>>

    It seems that South Carolina and Oklahoma are buying crude at Costco (“but look honey, it’s only a quarter of a VLCC, look at the savings”) while Indiana is buying theirs from the local (Speedway) convenience store.

    The alternate universe further said…..

    <<>>

    I have cleaned the contacts of my gas price pause button and look forward to the gasoline price fairy hitting it. I’m an optimist, I know.

    Comedy=Off

    Could it be that we Hoosiers have been fed pieces like the above for several decades and are now completely immune to Speedway’s antics? North Carolina (same taxes as ours) are at 2.23 and we’re at 2.49 average.

    I don’t care for gas prices – a 40mpg fit and a work from home wife means I’m spending under $100 a month on gas. But there’s the principle of being taken for a ride not just by Big Red but also by the so-called experts as well.

    Eagerly awaiting a diatribe for the reasons North Carolina is a quarter less a gallon less than us…

  17. from midday report on DTN

    Spot market Chicago gasoline prices have soared
    Tuesday on aggressive buying by a major-affiliated trading company following
    news of flaring at a regional refinery. The news reportedly prompted two
    refiners usually counted on for spot market supply to put cash sales on hold
    until further details were made public.

    Up 17.53 cents

  18. Mike - Kalamazoo

    Well there’s the squirrel, and will blow past 3.00 mark…

  19. Could turn out to be one of those double spike weeks. Guess I’d better head over to Anderson and take advantage of the cheapest gas in Indiana at $2.17. Next stop $2.79 and then $2.99.

  20. “The news reportedly prompted two
    refiners usually counted on for spot market supply to put cash sales on hold
    until further details were made public.”

    In other words, why sell for 1x when you can wait, limit supply, and sell for 1.5x.

    Tickle Me Elmo marketing at work.

  21. But, it’s all supply and demand, nothing more. No games being played at all. Nah.

    Nudge nudge, wink wink. Say no more.

  22. About those prices having already peaked…..
    We all knew better.

  23. Just “market forces at work” according to the guy named Ren who used to come here (Turbo ran him off lol)

    With a Rickers card I got gas at $2.07. Vehicles and gas cans all topped off. Hope the Greedway execs dont hear about my discount

  24. We still have a significant number of stations that have not moved off the schneid of 2.699 gas and now this.

    Of course there is still “supply and demand” in the Midwest…as in curtail the supply and demand higher prices.

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