Still Too Quiet

Comment on the July 12 prediction:  Prices rose to $2.39 in Michigan the next day, so the prediction was CORRECT.

Monday, July 25, 2016, 7:30PM:  The quietness in the energy markets continues, but retail prices have been sliding nicely, especially in Indiana.  Looking at my calculations, I think we are heading for a price reset on Tuesday or Wednesday.  Wholesale prices are just about where they were for the last hike, so figure back to $2.39. -EA

Updated: July 25, 2016 — 7:19 pm

30 Comments

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  1. Also, national spot prices are actually off about a nickel from the 19th (the last update on the spike line). If Chicago Spot prices are following, that would put $2.39 about 50¢ over spot.

  2. That would be about a 55¢ jump in Fort Wayne and Indy. About a 30% jump. If that doesn’t raise a few eyebrows at the Statehouse, we know who owns our politicians.

  3. Spot dropped about 3 cents today closing at $1.29. It would be nice if we could do it “Wichita Style” and hover about 60-70 cents above spot and stay there, but we know Big Red would never allow that. If we do spike and I’m guessing we will, it won’t hold long.

    I forgot to mention, that’s 60 to 70 cents above spot EXCEPT for the Cincinnati area which is usually $1.00 to $1.20 over (right ChrisDG74) lol

  4. The local news JUST ran a story on gas prices, and said they’d be going DOWN even more.
    We all know what that means…….. Staying topped off at $1.979 right now. Cheapest around.
    Ohio will go to $2.29, we’ll go to $2.39 later this week, most likely.

  5. Filled up at $2.179 this morning. That’s just about as cheap as I can find it east of Ann Arbor other than Costco @ $2.10.

  6. Go look at all the refineries having trouble right now, on the refineries status board, two in Chicago area, and two in Toledo…and one in Lima….
    There has been a draw down in the midwest, in gas inventories…so look for a jump soon!

  7. If reality had anything to do with the status board we would be happy. I’m headed to Kansas tomorrow where there’s lotsa yellow, but prices are stable. Here in Speedway Land, of course, things are different.

    The cynics among us note that refineries in the deep south seem to be doing well…

  8. What’s summer in Speedway-land without some refinery “issues”?

  9. I’ve noticed a drop in the squirrel population in my backyard. I swear I saw one on the westbound entrance ramp to I-94 with a sign that read “Whiting, Indiana”.

  10. I’m dyin’ here, Jeff!
    LOL

  11. Spot closed at $1.30 and crude down nicely. Maybe the electrified fence around BP Whiting will fry the sign holding squirrels trying to enter lol

  12. $2.299 spike in Ohio.
    Nothing in Cincy yet. We will see if we get $2.399.
    If so, we’d be $1.10 over spot(again).

    Supply and demand. They’re demanding larger margins and we get to supply them.

  13. Looks like a $2.099 “correction” in some parts of Toledo. Only roughly $0.25 increase at worst. (My side of town was right around $2 even, and the GREEDways closest to me haven’t spiked yet. Perhaps by evening drive.)

  14. It’s Thursday so it must be spike day. Muncie and Anderson Greedways pulled the trigger on a 35 cent jump increasing to $2.19. I wonder if gas spiked in Wichita?

  15. Wichita has prices steady at $2.02, same as yesterday. A week ago, the average was $2.04.
    A month ago they were all the way up to $2.15 (GASP!!!).

    Those poor Wichita-ians. That price-cycling is vicious! Vicious I tell ya!

    🙂

  16. South Bend spike to $2.19 underway. SBN avg $1.964. Costco $1.89

  17. a curious spike to 2.099 NW ohio corridor– gone from 10c below spike line to 10c or so above…mmmmm

    some stations will go from 1.85-2.09 others from 2.05-2.09 which hardly seems worth it
    i have been topping off everyday..it was 2.02 monday 1.89 this morning so its dropped very quickly.(13 c in 3 days).but then reset to just above what it started the week at

    not complaining tho..$2.00 gas in July..who would have guessed at that ?

  18. Cub reporter Turbo live from Kansas… Prices steady at around 1.99, gas buddy reports 1.98 to 2.01 citywide. I filled in Missouri at 1.85.

  19. Greedway cut us a break, only spiking to $2.299, with the rest of Ohio. Topped off at $1.939 at UDF on my way in yesterday morning, knowing the spike was coming since Tuesday.

    When entering prices this morning, I got the “are you sure? That seems high.” message. Yes, gasbuddy, I’m sure. Talk to Speedway…..

  20. Look at the bright side. The squirrels keep us from getting stale fuel.

  21. Cincinnati was still 86 cents over spot yesterday but we still spiked to 2.29. The Cincinnati average went up 11 cents since last night.

    The Gas Buddy website has three news stories in as many days, the gist was gas prices will be on the decline. Predictable GREEDway gives the Midwest a spike. It happens every time.

  22. Michigan is getting a Saturday morning reset $2.19/gal a gallon

  23. But…. The experts! How can they be wrong while the hoi polloi see the reality?

    Returning from Kansas today… Pity I can’t bring a few hundred gallons of $1.78 Missouri gold…

  24. Spot ticked up a few pennies to $1.34, but I’m already seeing gas stations (including a Big Red or two) drop back 4-5 cents from the spike.

    Maybe it will be back under $2 bucks by the time you get home Turbo

  25. just seen a 1.999 NW ohio corridor this morning..to the 20c spike has already halved in 3 days

    puts us back on the spike line again..will someone try a bigger spike this week to 2.299 as the last one seemed hardly worth changing the numbers on the sign in many places

  26. The Kiss of Death…………
    http://www.mlive.com/news/grand-rapids/index.ssf/2016/08/michigan_gas_prices_down_may_b.html#incart_river_home

    Did a three day dog show in central Ohio over the weekend so took advantage of some 1.86 and 1.99 prices while there. In our area, just southeast of Ann Arbor we are seeing a few stations tease with 2.04 prices. We never saw the recent reset and should not have given our “highest in the state” average.
    Took the Mom and her youngest daughter, Samoyeds, to the show. Mom won Friday and the youngster took back to back major wins Sat/Sun. Those and the gas prices made it a winning weekend.

  27. Ohio spiking to $2.399.
    Big Red is insisting on maintaining those spot + $1.00 margins.

  28. going to 2.199 looks like NW ohio corridor..

  29. Well that didn’t take long. Indiana Gas Buddy showing prices on the rise again. Spot is around $1.41 at mid-day. Guess the few penny increase during the last couple days is enough for a 20-30 cent gas spike…gotta love it

  30. Silly people, you know that Greedway has to raise prices. Peak driving season is over. Got to have someway to keep profits up…

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