You Snooze, You Lose

Comment on the March 6 prediction: CORRECT, as prices rose to $2.69. But, I didn’t get around on Friday to post a prediction on yesterday’s hike.

Sunday, March 18, 2018, 10:0AM: Here’s my story from yesterday. When I updated my spreadsheet on Thursday night, the numbers from Chicago were up “due to futures expiration and rollover”, but I thought the quote might have had a typo. I waited until Saturday morning to get the Friday quote, and I saw the jump in wholesale prices was not a typo, but since it was early Saturday, I figured we were set until Monday. In fact, I set a reminder to write a Gas Game prediction on Sunday morning. But, then $2.69’s started appearing on the Speedway site by 11AM on Saturday, and soon after, Gasbuddy sent out a notification via their app. Later in the day, I was driving through Lowell and saw that the old Admirals were still at $2.41, even though the rest of the stations were at $2.69, but I didn’t have time to stop and top off the tank. So, thanks, Big Red, for not waiting until Monday.

Looking back, since last July, oil has been slowly-but-surely moving up from $45 a barrel to $60, while the move in the gas has been more muted, from the $2.40’s when it spikes to $2.69. I think we’ve actually had a break on gas prices, given what has been happening in oil. I’m still wondering if $3 a gallon is to be expected this spring. -EA

Updated: March 18, 2018 — 9:33 am

13 Comments

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  1. Planning on hitting Costco this afternoon. Usually one of the last to spike. Was $2.2269 when I filled other car on Friday.

  2. ” I saw the jump in wholesale prices was not a typo, but since it was early Saturday, I figured we were set until Monday.”
    Me too. Especially after spot then retreated 3.6 cents in Friday trading before weekend wholesale was set. Either wholesale did not respond in similar fashion, or Speedway was really into the “Wearing of the green”

  3. yes couldn’t help noticing this morning on way to work Ohio NW rt 20 corridor at lot of stations that were 2.35 Friday were 2.49 this morning. that being said scored a 2.189 in Lexington ohio off I-71 on way back from Columbus last night..and still some 2.299’s around

  4. Retrying the $2.69 that didn’t stick everywhere in Indiana last week?

  5. I don’t see how we can’t crack $3 during the spring especially since gas is averaging 30 cents or so higher than last year at this time.

    Just got back from vacation in Southern California and I scored a “win” filling up for $3.30. I saw gas in the $4.29-$4.49 range around Hollywood and Beverly Hills.

  6. South Bend IN going to $2.69 today. Speedway by ND was down to $2.48.
    Costco $2.34

  7. Gas buddy just spike alerted. Several speedway dropped a couple notches to 2.38 yesterday, so I gassed up last night. Good instinct it turns out. Kroger points keeping the pain off this spring so far.

  8. 2.79 in Kazoo area this afternoon.

  9. $2.599 in Ohio this morning.
    Not much of a jump. Average was in the mid $2.40s.

  10. speedway led 2.599 NW Ohio..again..as it was 2.459 there beforehand nothing major apart from its a holiday week

  11. Cincy and surrounding areas actually went to $2.659.

  12. South Bend IN – Speedway going to $2.79 today. Speedway by ND was down to $2.48.
    SBN avg was $2.58

  13. $2.79 in Indy today. Surprised as the chart in the upper left has shown oil prices declining this week.

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