Wholesale Prices Starting to Perk — Retail to Follow

Monday, October 3, 2016, 8:30PM:  Now that I have written in my last post about “nothing-burgers since July”, volatility is starting to perk up in the energy markets.  Oil is up 10% over the past two weeks, and wholesale gas prices have followed.  I’m calculating negative margins tonight, which almost always signals a price hike is coming up pretty quick.  Looking for $2.39-$2.49 as soon as Tuesday. –Ed A.

Updated: October 3, 2016 — 8:10 pm

21 Comments

Add a Comment
  1. South Bend IN – Speedway spiking to $2.39
    SBN avg 2.174
    Costco $2.05

  2. Several Greedways leading the charge (imagine that!) to $2.39. I look for the $2.50 mark to be broken with next weeks spike

  3. $2.399 in sw Ohio as well. Up 40 cents since the switch to winter blend.

  4. Grand Rapids on the way up to $2.39

  5. And I thought winter blend dropped prices lol. Spot is at $1.59 now, up 21% since September 1st

  6. Same for Ann Arbor. GB Price Hike Alert $2.39 +/- .10
    Pre-hike avg $2.25

    Costco/Sam’s Club $2.11

  7. Good thing we have the Commodities Markets to prevent wild price fluctuations of basic commodities…

  8. speedway going to 2.399 NW ohio corridor
    so far no one else following
    Gasbuddy gone from proces falling to rising but no spike alert issued

  9. Gasbuddy has REALLY been slacking on the notifications lately. Even their Facebook alert page has been silent the last three weeks.

  10. Volitility!!! bad weather in fla and southeast,.. and the market going up and up
    , I would not put it pass Greedway to do another jump between today and Monday,..
    too many animals running around the refineries!!!! I would say 2.59 is in the mix
    soon,…

  11. Interesting. Indiana is one of the top 10 states for convenience stores.

    http://www.cstoredecisions.com/wp-content/uploads/2016/09/Top10EmergingStatesforC-Stores.pdf

  12. On the way in to work:
    Speedway $2.399. UDF, across the street: $2.029. Guess where I got gas….

  13. Interesting that the stations on the southern side of the Toledo area took until TODAY to spike! (Four cents below top price–$2.359.)

    Fortunately, was able to use the GREEDway pre-gouge discount. As I always say, “honor among thieves…!”

  14. Surprised to see Spot virtually unmoved at mid-day since Russia has announced they are ready to join in the OPEC output deal. Crude is on fire and I’m sure $2.49 at the pumps is a lock this week. If this keeps up, my prediction of $3+ gas in February will have to be moved up to $3+ gas by Thanksgiving.

    Yikes….

  15. Here’s the latest according to an online newspaper in MI:

    http://www.mlive.com/news/index.ssf/2016/10/michigan_gas_prices_up_a_dime.html#incart_river_home

    Patrick DeHaan says–
    “Gasoline prices have risen in much of the country over the last week as crude oil prices rose to over $50 per barrel as market weighed the possibility of OPEC cutting production,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.

    “Among the hardest hit were Great Lakes states as refinery issues also pushed fuel prices higher. And while hundreds of gas stations in Florida ran out of gasoline ahead of Hurricane Matthew, much of the increase was not because of the storm but due to the rise in crude oil prices. Finding gas may be challenging in some parts of the Southeast in the week ahead, but motorists can continue to report and find gas by visiting GasBuddy’s Gas Availability Tracker

    “Moving forward, oil may be on shaky ground as signs emerge that OPEC may not cut production as they indicated two weeks ago. The Saudis recently cut crude oil prices to some customers for November delivery, a fresh sign the Kingdom is staying aggressive about market share. This could lead to some relief as we head towards the holidays,” DeHaan said.

    I guess I’m either naive or ignorant but I don’t understand two things. 1)Why does the stock market drop 200-300 points on speculation that the Fed will raise interest rates in 3-4 months. Similarly, why do oil prices rise in Sept/Oct based upon what might happen in Feb.

  16. That’s the futures and Commodities markets doing their thing. Yet volatility, if nothing else, got worse since the Act passed…

    There’s gold in them spikes!

  17. 5 straight days of falling spot prices….around 15 cents total. It could be a wait for the next hike/

  18. The energy sector took a hit in market today, leveling off what should have been a good day, into a so, so day- those with a few bucks at stake still don’t think the Russkie’s will follow through with the OPEC plans…oil still near $50 a barrel.

    By the way…how did the coastal states fair with the pre and post hurricane prices at the pump…..imagine something like that in the Midwest….”The sky is falling = $4.00 a gallon = Speedways circle of control”

    Lastly, Can anyone clarify what the new gas tax increase in Michigan will look like and when does it kick in?

  19. spot continues to fall faster than pump prices….round here still around $2.30 NW ohio area so a healthy margin around 25 cents in places

    playing the gas game seeking out the cheapest areas..but no justification for a spike anytime soon if things stay stable

  20. Spot dropped 2 pennies today to $1.38. Maybe the switch to winter blend is finally having an effect? It kept going up and up and up along with crude. I thought for sure we’d see spot in the $1.60+ range this week, but fortunately it’s going the other way.

    Already spotted $1.95 gas at the SR18 exit along I-69 with the newly opened Flying J truck stop east of Marion. Others nearby are matching as well. Looks like Big Red will take this week off from spiking lol

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 1,511,516 bad guys.

 

TheGasGame.com (c) 2017 Frontier Theme