Since oil rallied last week …

Comment on the August 3 prediction:  Prices rose to $2.39 on August 4, so it was CORRECT!

Sunday, August 14, 2016, 5:00PM:  Although prices rose on August 4 in Michigan, we saw prices stay under $2 in Ohio and Indiana.  That was addressed last week by the powers-that-be.  Meanwhile, oil is up about 10% this month, and wholesale gas prices are starting to follow.  As I was able to fill up for $1.99 in Lansing on Saturday, I suspect they’ll reset everything this week, probably back to $2.39.  Maybe as soon as Monday? -EA

Updated: August 14, 2016 — 4:51 pm

24 Comments

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  1. Will be pretty shocked if we don’t see $2.39 tomorrow in Chicagoland. Of course we are always on our own time table. Based on a 14 cent difference in Chicago spot price for CHicago RFG and generic spot, $2.39 elsewhere would seem excessive But I guess especially in Michigan rack prices are still being affected by the pipeline issue in northern WI.

  2. lots of travelling this weekend around ohio..and a wide variety of prices…

    1.999 around home area..mansfield ohio saturday morning
    2.099 north of dayton saturday afternoon
    2.399 on the way out of the tennis at mason Ohio (20 miles north of cincinatti) sunday afternoon
    1.879 on way into work rt 20 corridor this morning- at speedway of all places

    noticed couple local stations reset fro 1.999 to 2.199 last friday, but quickly unreset by sunday afternoon

    all that being said looks like another rest to 2.199 coming here if not today then tomorrow

  3. $2.399 in sw Ohio.

  4. $2.39 confirmed in Grand Rapids. I just filled up for $1.98 this morning.

  5. 2.299 here in Central Ohio lead, of course, by greedway. Funny, seems others are slower to jump with them this time. Still see lots of 1.91-1.99 around…

    Of course the papers and radio here all had their “it’s getting cheaper to fill up” stories today…

  6. Yep, in Ann Arbor all the Speedways have reset to $2.39. Most others seem to be holding their ground. $1.98 sounds great, Derek. Best I could do was a $2.12 fill up.

  7. I should add that there is no “official” price hike being announced by GB. Simply says, “Prices rising.”

  8. OK. There it is. Pre-Hike Avg. $2.29. Projected Avg. $2.39 +/- .03. But still few takers.

  9. Wichita reports $1.99 🙂

    I’m not a tin foil hat conspiracy theorist (messes up my hair) but I can’t help but wonder how the availability of GB and smartphones hasn’t put a dent into the spike conundrum; if nothing else it feels ts getting worse.

    Any thoughts?

  10. Turbo, there appears to be an arrogance level oozing from Big Red that says, “We have a business model and nothing is going to keep us from practicing it, the competition be damned.” Of course, said rivals see an opportunity to make a few shekels more every time there is a price reset. They can either join Speedway at the top of the price list or stay a few pennies below and stay in the good graces of their loyal customers by not maxing out the price. GB lists the prices and they appear to be the good guys.
    But isn’t is amazing how the “market forces” drive all the stations to the same price at the same time regardless of rent/tax disparity of the building, the payroll, etc. It’s almost as if they have the exact same costs to absorb. Shocking!

  11. That’s because there’s no transparency, and because non Speedway retailers have few choices in where to get gasoline. I don’t think they enjoy playing to Speedway’s tune but they don’t have a choice.

    That’s where a price fixing investigation would help.

  12. Ed,

    thanks for the warning. I was concerned about this site with the loss of the spike line, as that would often trigger a gas buy for me before an official spike warning hit. (sometimes busy at work, can’t just leave to go fill up with only an hour or 2 advance notice). At least with this spike, the warning was timely enough for me to fill up.

  13. looks like 2.299 NW ohio corridor. Noticable thing in recent months seems to be the fact that when the spike starts a lot of stations are slower in responding – i saw 2.299 at the speedway in town at 3.30pm yesterday, but a mile up the road its still 1.939 this morning where i squeezed 6 gallons in
    i can remember in past when you saw the spike coming every station would instantly raise it – could drive 50 miles an hour after the first warning came and every station would be matching it..now it seems easier to still get the cheaper rate..often even the next morning

  14. What still blows my mind is crossing an intersection with Speedway on one corner at $2.39 and a non-Speedway station on the opposite corner at $1.96. Speedway was still packed with the SpeedyRewards loyalists while non-speedway had 1 car in their lot.

  15. Speedway in South Lansing went from 1.979 to 2.399 today. There is still sub 2.00 gas in the Lansing area, but not for long…

    Ed – you should’ve stopped by the dealership and said hi while you were in town 😉

  16. Although crude has been on a climb lately, Spot really hasn’t been matching its overall upward trend. Spot finished down 1.31 cents today closing at $1.4226.

    I’m seeing many stations in east central Indiana sink below $2 bucks. I’d say Thursday is the day, but they (Big Red) pulled a Wednesday spike last week. I’m sure their finger is on the trigger lol

  17. Ah yes, the Speedy Rewards mouth-breathers. Too blinded by their high-fructose corn syrup fix to realize they paid for that “free” SpeedyFreeze the last time they got gas, because you just know they paid the spike price.

  18. I saw something strange. At 116th and I-69 in Fishers, the Speedway was at $2.05 at 9:20, the Shell across the street was $2.19. What gives?

  19. Eventually, you can earn enough SpeedyRewards points to get ten cents or so off per gallon, so there’s that.

    Honor among thieves…!

  20. Speedway pushing the spike to rest of Indy/Indiana so they join the northwest Indiana spike to $2.29 pushed out overnight. At least they’re all consistant this time? :-p

  21. South Bend IN spiking to $2.29. avg was 2.087
    Granger Costco $1.97

  22. Spot up to $1.50, crude roaring back towards $50 bucks a barrel. Our days of sub $2 dollar a gallon gas might be nearing an end for awhile

  23. Sub $2, I think Michigan is gonna blow past 2.50 a gallon, if not this week, next for sure..

  24. We’ve been pretty lucky this summer in Indiana Mike. We have dropped down to the $1.89-$1.95 range prior to each spike over the last two months. The local Greedway just shot up to $2.29 and I have a feeling with spot prices at $1.50, we’ll be lucky to drop below $2.09 before next week’s spike

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