Colonial Pipeline Yawn

Comment on the September 8 prediction:  The hike didn’t occur until the 12th, to just $2.29, so call it WRONG.

Monday, September 19, 2016, 9:00PM:  You have probably heard about the Colonial Pipeline break in the South, leading to big hikes in states like Tennessee in the past week.  Here in the Great Lakes states, though, the effect has been mild.  In fact, my estimated price-to-retailers has been pretty flat all month, and retail prices have been steady, too.  As prices drop towards $2, margins are getting squeezed, and I expect we will see a re-set this week.  But there is no sign right now that it will be anything dramatic. — Ed A.

Updated: September 19, 2016 — 9:08 pm

20 Comments

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  1. Spot is down 6 cents at mid-day to 1.36. Nearly all gas stations spiked a few days ago. Strangely enough I found one along I-69 that not only didn’t spike, but WENT DOWN to $1.89…filled her up last night!!

  2. As usual, Chicago is out of synch with the rest of y’all so today, as expected, is a Speedway hike day. All the better for them if wholesale takes another sharp drop.

  3. And just like that BP Whiting is taking a hit:

    http://www.nwitimes.com/business/local/bp-whiting-refinery-shutting-down-two-units/article_1dcfcef2-2c97-5c78-a658-b789388d3e54.html

    Fox Business News even mentioned it with a reporter on scene. The squirrels must be having a convention nearby lol. I better enjoy that $1.89 gas

  4. I think Whiting was planned. Doesn’t mean the traitors/traders won’t use it as an excuse to send spot prices soaring anyway….

  5. The usual expert said it should not impact prices upwards, but prices should not fall much more either…

  6. “The usual expert said it should not impact prices upwards,”

    Well, crap. Guess I’d better top off soon. If the expert says they WON’T go up, we’ll be seeing a spike in the next two days.

  7. Anybody feeling fall weather yet? Didn’t think so. Just relief from the horrible August. And yet, here goes winter blend and fall maintenance. AND the “spurt” in prices. Notice that the shortage in Georgia resulted in over all price increases of 40 cents, no a wild $1.10 and more in just 2 business days?

  8. No fall weather here. 88 and sunny today.
    Not going to see a high below 83 until at least next Wednesday.

  9. Could be an interesting week in northeastern Indiana. Statewide, it shows 3¢ over the spike line, but the Fort Wayne area has dozens of stations below the $2 mark going into the weekend, putting us well below the spike line.

    On another note, the Fed is apparently looking “to put new limits on big banks’ activities in physical commodities business, with an eye to reducing financial risks from volatile trading and transport of sensitive materials”. In other words, oil. It goes on to say banks would be required to increase the capital they hold against potential losses and would face limits on commodities trading.

    Is there any chance this could be a game changer in price volatility?

  10. Spike to 229 in Michigan today?

  11. The Lansing area is spiking to 2.29 right now.

  12. Nothing happening east of Ann Arbor but our average is $2.25. Our older daughter is traveling back to Peoria and reported filling up at Exit 23, just north of Stevensville, for $1.96 around 2:00.

  13. Spike to 2.29 definitely in Michigan today.

  14. Wow, Sunday hike, that’s kind of surprising even for Greedway..

  15. Local news just said expect prices to drop. Welp, with Ohio close to the spike line, I wouldn’t bet on it.
    Spike today or tomorrow.

  16. It took a while but multiple stations east of Ann Arbor have now hit $2.29, mainly the major players. Still half a dozen at $2.09. The area price average is up .02, to $2.27. No Price Hike Alert from GB, just the red arrow pointing up, Prices Rising.

  17. I guess Sunday spikes do occur!! Led by Speedway I presume though I didn’t see that specifically noted above. Just never seen one in Illinois. Of course we’re on our way down after last Tuesday’s hike.

  18. Gas spiking to $2.25 this morning across the majority of indiana (Indy). Fill it up while you can

  19. My wife just passed by a Greedway in Anderson Indiana who raised the prices from $1.91 to $2.29. Nothing like a nearly 20% increase in prices when spot is holding steady

  20. South Bend IN Speedway spike to $2.29. SBN avg was $2.035. Some Speedways just dropped to $1.99 this morning. Time to visit Costco for $1.89.

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