Longest days of the year should bring better prices

Comment on the June 1 and 7 predictions:  CORRECT and CORRECT, as prices soared the first half of June.

June 15, 2016, 7:30PM:  After the crazy hikes the first week of June, fueled by the new normal of refinery and pipeline issues, wholesale prices have fallen hard this week, and I expect retail prices to follow.  My estimate of the 0-cent margin price is $2.28 this evening, and retail prices are much higher right now.  So, don’t be in a rush to fill up, and we should be good into next week. — Ed A.

Updated: June 15, 2016 — 7:12 pm

38 Comments

Add a Comment
  1. The ride’s been even crazier for Chicago RBOB spot, but now down 45 cents since our last hike 7 days ago so the same advice/prediction works here. My last top off last week at $2.399 was the most expensive of the year so far and I hope to start the downward trend with my next fille.

  2. things still drifting down NW ohio RT 20 corridor..but still lots of 2.55-2.59’s around
    strange thing is just scored 2.45 this morning at a station I never fill at as its historically the highest price with no local competition. looking at Gas Buddy the lowest local prices in areas usually with higest prices, and the areas that normally have lots local competition/grouping of station srae at top of price range

  3. Yeah spot has taken a nice fall under $1.50 now. Strange thing is when I left Cincinnati last night, I saw a lot of places in the $2.72-$2.79 range. These are some insane margins. What happened to the good ‘ol days when gas prices were about 75 cents over spot. Cincy might be the new Chicago minus all the shootings

    We have our first $2.29 prices coming back finally

  4. Cincy average is still $2.675. Ohio as a whole is still $2.59.
    Someone’s enjoying some pretty healthy margins right now.

  5. Ann Arbor checking in at $2.72; MI at $2.66.

  6. Spot dropped another 7 cents today. It’s time for those cushy margins to shrink

  7. indeed..still plenty 2.62-2.65 in my ‘home area’ NW ohio..that’s 45c over ‘the spike line’ At this rate of slow decline how are they going to justify the next holiday spike that’s only 2 weeks away?

  8. Cincy is currently $1.23 over spot.
    Gotta love life in GREEDway country….

  9. Something fishy is going on in Cincy Chris. Cincy’s average is 10 cents higher than both Anchorage and Honolulu

  10. Nah, just a normal Summer in Speedway country. We always pay more when the temps go up. Happens every year. EVERY year.

  11. I believe someone predicted this would happen(spot prices drop quickly, and we wait weeks for the pump price to follow). Oh wait, that was me(and some others)….

    Speedway is so predictable. Pump prices are about 40-50 cents (depending on rack prices) above where they should be. Sure didn’t hesitate to spike the very next day, when spot prices went up…….

  12. I had said, “two days up, and two weeks down” but the two weeks was just for alliteration.

    What might happen is one or two DEEP Discounters hit the spike line and Speedway will decide to spike, even though the average is still far above cost.

  13. Mike in Kalamazoo

    Just came back from a trip south, once you hit Greedway area prices jumped 40 cents. In less than 15 miles on the highway. 2.28 then 2.68. They should get the Nobel Prize for how to screw people… oh bought gas for 1.97 on Wed afternoon before heading back to Michigan. Afraid I probably won’t do that again any time soon.

  14. Same thing in Kentucky. Get away from GREEDway’s influence, and prices are in the $2.20s.
    Areas with the highest concentration, are in the 2.50s and 2.60s.

  15. Chris…remember any of those wonderful discussions about prices are based off of what it costs retailers to FILL their tanks currently? This sure does back up the claim of how quickly prices rise….completely negates that argument now that spot has fallen off a cliff.

  16. Yep. I get the whole “stations charge what it takes to cover their NEXT delivery”. Completely understandable.
    But, yeah, that only works on the way UP, not down.

  17. WTI Crude is blazing upwards today and spot has ticked up a couple cents at mid-day. Could this trigger another spike in the Cincy area LOL.

    Batten down the hatches ChrisDG74!

  18. Unless spot jumps about 50 cents today, I can’t see Speedway pulling the trigger.

    BTW – That statement shows how bad we are getting violated at the pump around here.

  19. This graphic may be 3 years old, but I just knew Fort Wayne was one of the worst price swings of anyplace. Due to the fact that retail (of all types) are so locked into each other’s pricing.

    https://images.gasbuddy.com/images/blogimages/20130820110351Jumps.JPG

  20. looking around gas buddy where to fill up this morning

    2.629 at end of the street
    2.239 8 miles away – silmilar pricing 12 miles the other direction

    some real localized fixing going on here..all other locals are around 2.60 still

  21. Plenty of 2.03 – 2.05 prices along I-70 west of the blight zone.

    Free markets indeed.

  22. 2.599 end of the street
    2.129 8 miles away

    so since yesterday it dropped 3c a gallon locally but 11c a gallon a short distance away

    guess which way I am heading to fill up in the morning
    Cant ever recall seeing such vast prices differences in such a small area

    47c a gallon difference from one local town to the next ??

  23. How far away is the DEEP DISCOUNTER but everybody spikes together conditions? Thursday? Tuesday the 28th? It is coming.

  24. Zone pricing is far more insidious than spiking if you ask me. In my older girl’s college town the spread is like 1-2 cents and stable for weeks on end. The price on the highway is actually a few cents cheaper…

  25. Nice to see spot is back up 10 cents over the last 2 days.
    Looks like sw Ohio will drop to about 2.49(currently 2.57) just in time for the July 4th spike, back to 2.699.

  26. Gas prices in Belding, Michigan right now are at $2.03 at Wesco and $2.04 at Marathon across the street. 12 miles west on M44 gas at the BP station is $2.56. Is it worth .52 centavoes to go 12 miles east? DAMN RIGHT!
    The nice young lady at the Marathon said that she has NO IDEA why the price is that low…other then a small scall, small town gas war has been ongoing most of the summer.
    Lowest prices in Michigan and perhaps a lot of the upper Midwest…right here in lil ole Belding.

  27. same going on round here 2.02 in Shelby Ohio 2.55 Ashland Ohio..14 miles away….

  28. Heh, I check in for the first time in months, in preparation for a road trip, and the same guy is still griping about “zone pricing,” as prices continue their two-week-long drop. 😀

    Guess I haven’t missed much.

    Happy travels!

  29. “Two-week-long drop” to get to where the prices were prior to a 2 day spike. Hardly worth a “happy face.”

  30. We finally go to the pre-spike price MONDAY.
    Nevermind that Monday morning, spot prices were 65 cents lower than the day we spiked. Pump price STILL has only dropped 20 cents.
    But yeah, you keep those rose-colored glasses on.

  31. We get our first time in quite a while without a spike per week and Ren shows up. Where was he when we were pushing for the highest prices in the nation?

  32. local price war just broke out in Tiffin Ohio it seems..3 stations close together at 1.869..rest of town at 2.179..Rest of the RT 20 corridor between 2.30-2.50 still……

  33. Ren, my man, drive to Missouri or Kansas and beyond and tell me if there’s any trace of zone pricing the way we have it in Indiana. Hint: not a lot. You also don’t see Taj Mahal gas stations and bouncing prices either. You also don’t see as many gas stations to begin with. In both St Louis and Kansas City the spread of prices is 20 cents max. In Indy or Columbus Ohio I see a spread of around 40-45c…

  34. I think Ren might be a Speedway executive in disguise. Oh what will they do. Spike on Tuesday the 28th, which would give prices time to trickle down before the holiday weekend or throw a 30-40 cent spike at us next Thursday the 30th giving it more of a chance to stick?

  35. I can only speak for Ohio.
    Ohio’s currently 87 cents over the spike line(SW Ohio is still $1 over), and dropping slower than molasses in the middle of January.
    Unless spot prices go up a lot, like 25 cents, in the next few days (and we know that all it takes is one rabid squirrel to fart and all bets are off), I can’t see us spiking.

  36. 87 cents over spot, not the spike line. Sorry.

  37. Chris, there’s no need to hide under the name “Wick”. Just because he knows more about the market than you doesn’t mean he’s a Speedway exec. I know you’re insecure, but that’s what people are here to do- educate and share knowledge.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please leave these two fields as-is:

Protected by Invisible Defender. Showed 403 to 1,511,514 bad guys.

 

TheGasGame.com (c) 2017 Frontier Theme