Is it time to say “No Thanks” to a price hike?

Comment on the November 1 and 13 predictions:  We got a hike to $2.19, as predicted, so that was CORRECT.  Also CORRECT was part of my November 1 prediction, regarding the stock market.  Did you buy call options?  I forgot.

Tuesday, November 22, 2016, 8:00PM:  Post-election, oil and wholesale gasoline prices fell through Veterans Day, contrary to the stock market.  But last week, we started to see oil perk up, leading to last week’s price hike, but wholesale gas prices continue to rise.  Tonight, by my calculations, the 0-cent margin price is about the same as the retail price in Standale.  That usually triggers a hike, but will they give us a pass until Friday, due to the holiday?  Why gamble … fill up tomorrow morning!  And I’ll predict a hike either Wednesday or Friday. -EA

Updated: November 22, 2016 — 7:52 pm

27 Comments

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  1. All holding steady 2.05-2.12 NW ohio corridor. Past the ‘alert’ time for the day so looks like gonna be spared a pre thanksgiving spike

    froday could be a different matter tho…..

  2. A few stations local to me here in Lansing never spiked and held steady at $1.94. Now there are several stations at that price, but there are many well above two bucks, which is kind of odd around here. I used a 20 cent Kroger discount and filled up everything I have for $1.74 this morning.

  3. Speedway average in the Chicago market is just 49 cents over wholesale, 56 over spot. Losing significant money on average at those prices. Only question is whether the hike will come on Thanksgiving, Friday, Saturday ??

  4. The Speedways near me that had been losing 20-30 cents a gallon the last few days have raised prices 15-30 cents to get back to treading water.

  5. Yet another super-busy driving holiday week passed without a spike.

    I’m sure this will be well remembered around here going forward!

    Just kidding. Happy Thanksgiving anyway! 🙂

  6. Getting a bit of a “mini” spike in the Fort right now. Up to $2.05 at the Greedways, Lassus Bros., and Marathons. That’s up only about 11 or 12¢, so not the 30-40¢ spikes we have become accustomed to.

  7. Yep I saw a Big Red in New Haven jump from $1.93 to $2.05. Most places didn’t spike prior to Thanksgiving though. Hoping this weeks OPEC meeting doesn’t cause prices to jump

  8. We’ve been in spike territory since Tuesday. It’s coming(tomorrow, FINALLY), no matter what OPEC does this week.
    Topped off the cars at $1.799 this morning. That will look REAL good tomorrow, when it’s $2.299.

  9. Already got my text alert from Thorntons in Indy this morning.

  10. $2.299 spike finally under way in Ohio.

  11. $2.299 spike in South Bend IN area. Time to visit Costco for $1.84.
    SBN avg $1.99.

  12. 37 cent per gallon spike underway in Anderson courtesy of your local Big Red

  13. Ahhhhh, the Greedway double spike…gotta love it!

  14. Still no “official” GB Price Hike in the Ann Arbor area even though the usual suspects have gone up to $2.29. Just a “prices rising” arrow. There are still sub $2 stations around. With Spot dropping almost a nickel this one may be short lived.

  15. Same for Ohio. No notification.
    That’s fine. We always beat the notifications anyway. Being proactive has its benefits.

  16. In FW, I noticed early Monday, that Speedway had gone up to $2.05, and Lassus had gone up all the way to $2.19. This morning, Lassus was still at $2.19, with people filling tanks. I didn’t see Speedway on my way to work, but other stations mostly were $2.05 or lower at that time.

  17. It was sort of a strange spike with some going up one day, others the next or even a day or two after that. Spot is down nearly 5 1/2 cents dropping to $1.32 so far today. Maybe we’ll be safe from another jump until next week?

  18. based on the spot close tonight some eye watering margins..close on 40c in places
    a few areas only went to 2.199 in NW ohio corridor..and many that went to 2.299 are already down 10c following day. just seen 2.179 already in Ashland Ohio down from 2.299 same time yesterday scored a pre spike 2.059 this afternoon..24 hours later.

    playing the game is in order right now..prices are all over the place last few days

    cant see this spike holding long given the current trend

  19. Oil up 7% so far today on OPEC’s lovely plan to cut output. What’s next…$1.70 spot and $2.59 gas by Saturday? I’m sure the champagne corks are popping at Big Reds across the midwest

  20. Spot up 10.44 cents AND we’re only halfway through the day. Oh boy………

  21. Yep, another 30 cent hike at the pump, OPEC plan falls apart and everything drops the next day..oh wait, everything but pump prices. Its a game the boys play to make money, and the Feds do nothing about it.

  22. oh boy..oil up 9% if spot follows will put the margin down to around 15c given the 2.15 just paid tonight

    on paper not enough for a spike yet..but nothing like a good story to crank it up again
    2.399 weekend spike maybe?

  23. Spot actually backtracked a bit off the mid-day numbers. It ended up 7 cents at $1.36. Hopefully the numbers ease over the next few days and Greedway doesn’t decide to give us the “2 for 1” special double spike week

  24. Oil and gas up again today, and 30 cents only,Itss got the makings of a Friday/Monday
    jump all the way,. I hope not, but the squrrils are on the 2yrd line and 1st and goal,.!!!

  25. Spot prices up less than 2 cents today since the CBOB discount (vs RBOB futures) grew significantly. Lower than they were over Thanksgiving weekend. Most Speedway markets are only down 3-4 cents off last Monday’s peak. Hard to squeeze a hike out of that.

  26. Hope you’re right Jim, we’ll see what spot does today. WTI crude is starting off lower so far

  27. Ohio is still 80 cents over spot.
    We’re good for a while.

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