Happy Thanksgiving?

Comment on the November 1 prediction: Well, that was WRONG, as prices didn’t rise in Michigan until a week later. Weird, given the hike in Indiana.

Tuesday, November 21, 2017, 7:00PM: After three hike days in October, it has been a quiet November with only one hike day so far. The Midwest shortages seem to have sorted themselves out, and wholesale prices have been dropping steadily since the beginning of the month. I would say that I’m not seeing a hike on the horizon, except that gas is $2.20 in Sparta this evening, $2.33 in Cedar Springs, and $2.35 in Wyoming, all below the 0-cent margin price I calculate. So, they could try to reset across the board to $2.59 on Wednesday, or Big Red might give us a Thanksgiving treat. No prediction at this point, but keep an eye out if a hike emerges tomorrow morning. – EA

Updated: November 21, 2017 — 7:09 pm

11 Comments

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  1. NW Ohio corridor update 2.299 in Ashland OH, 2.559 Norwalk Ohio 25 miles north. Big variation over relatively small area. can only see some significant falls in some areas before any rises

  2. Since gas is still mostly $2.79, slowly dripping to $2.69, in my area of Northern Michigan, I’d love to see a “reset” to $2.59!

  3. Spot is down a little over a penny at mid day. Might a post thanksgiving spike be in store due to this news??

    “Chicago oil products could be impacted by the Keystone outage with Phillips
    66 reportedly forced to reduce rates at its 336,000 bpd Wood River, Illinois
    refinery that relies on the flow of Alberta, Canada shale oil crude for the
    lion’s share of its feedstock.”

  4. Chris, saw this earlier today from Reuters–

    LONDON, Nov 22 (Reuters) – Oil prices spiked on Wednesday with U.S. light crude hitting highs not seen since July 2015 after faults on a major pipeline dented Canadian deliveries to the United States, where crude inventories were also reported to be falling.
    U.S. light crude hit a 2-1/2-year high of $57.98 a barrel before easing to $57.74 by 0950 GMT, up 91 cents on the day.
    Brent crude was up 48 cents at $63.05 per barrel.
    Traders attributed the jump to an 85 percent cut in the amount of oil TransCanada Corp will deliver to the United States on its Keystone pipeline through the end of November, announced by the company on Tuesday.

  5. Yet another major driving holiday gone, with nary a spike.

    But the myth will surely live on…

  6. Well we were already 40 cents over the spike line thanks to the spike the week before, so….

  7. I’m preparing for a reset in lower Michigan on the morning of Thursday, November 30.

    Today’s Michigan Spike Line is $2.4179, 6.41¢ below the Michigan GasBuddy average of $2.482, and 2.01¢ below the Kalamazoo GasBuddy average of $2.438.

  8. Shhh. You’re making too much sense Rufus.

  9. A reset tomorrow in lower Michigan now seems unlikely. The Michigan Spike Line fell 5.27¢ today to $2.3652, 10.68¢ below the GasBuddy Michigan average of $2.472.

    At 4:11 p.m. ET today, Patrick DeHaan tweeted: “Wholesale #gasprices down again today on big build in gasoline inventories, #GreatLakes still the lowest in USA, the drop does provide more breathing room to perhaps push next hike to next week.”

  10. Wow! Speedway at Michigan and fuller in grand rapids drop $.17 a gallon today and they were higher than most stations in the area at 2:54 a gallon now at 2:37 shell across the street is still at 2,54/gal

  11. I know when they do that down here in Kazoo, that usually means a 30 – 40 cent jump coming in the next day or two…

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