Not Quite Three Yet

Comment on the April 9 posting: Prices rose on April 11 to $2.85. CORRECT!

Wednesday, April 18, 2018, 7:00PM: Oil prices keep dancing higher, closing tonight over $68 a barrel, the highest in two years. So, wholesale gas prices follow, and we are back in price hike territory. A price reset to $2.99 would get margins back to where they usually are after a hike, but I wonder if they’ll do something like $2.95 to be less dramatic and keep the media away. Should I start practicing typing $3+ for May? -EA

Updated: April 18, 2018 — 7:09 pm

23 Comments

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  1. WTI is up .43 since the market closed and is now $68.93.

    From CNBC–
    Demand for gasoline hit a record level at 9.86 million barrels a day last week, according to government data. But energy analysts say the number could be artificially high because some exports may not have been reflected, which would have reduced the number.

  2. Speedway to 2.95 in Grand Rapids area

  3. Speedway DROPPED to $2.69 in Daleville Indiana from $2.85. Pretty rare to see them leading the charge in a downward direction. With the Saudis wanting to push oil higher and higher and others saying oil will increase another 10-15% this year, I’d say $3.25 isn’t out of the question.

  4. Traveled from SE MI to Bowling Green, OH, over the weekend for a dog show. Found a BP and a Speedway just off I-75 @ $2.59 and a Circle K @ $2.54.

  5. Spike failed in sw Ohio. Dropped pretty quick back down to $2.599.

  6. Received a Meijer text today for the Indianapolis area going up. Gas Buddy doesn’t show the increase yet and an avg of $2.68

  7. Speedway going $2.95 at many Indiana locations.

  8. Spot up a few cents to $2.04. When is Big Red going to take us over $3 bucks a gallon? I think they’ll pull the trigger on the spike after next, probably in the May 4th-7th range.

    I bet Turbo is happy ????

  9. South Bend IN – $2.95 yesterday. Weekly .20+ for about 1.5 months now.
    Costco 2.65

  10. Turbo is wondering about the sheeple stoically accepting 3.00 gas on $68 or $69 crude…

    Thankfully 3 of 4 family members walk or take mass transit and yours truly still drives a Honda Fit so… Let’er rip.

  11. $2.859 in Ohio.

  12. even higher NE Ohio 2.899
    margins getting fatter

  13. How much of this is due to the refinery in NE Wisconsin that went kablooey, I wonder?

  14. The Lansing area went up to $2.99 yesterday. Unfortunately, it seems the forum wasn’t accepting posts, or at least that was the case for me.

  15. Ditto for Washtenaw County (SE MI), BTC. Happened just this Noon. No Spike Alert from GB, just a Red Arrow going up.

  16. South Bend IN – Speedway weekly spikes continues, up $0.30 to $2.99.
    Costco 2.69

  17. Gas going up to $2.99 in Indianapolis today.

  18. $2.99 in Muncie….next weeks spike
    takes us over $3 bucks….can’t wait!

  19. I am just guessing here, but it’s starting to look like $3.29 or $3.39 is where it’s headed long term. Maybe worse. I hope not.

  20. Saw a forecast that projected $3.49 as the average price this summer, highest since 2014.

  21. http://www.macrotrends.net/2501/crude-oil-vs-gasoline-prices-chart has some interesting crude vs gasoline price chart…

  22. Gotta wonder if the oil companies are out to get the President?! Or deliberately out to mess with the economy?!

    Why are these oil prices going bat-shizzle CRAZY?!

  23. Saw last night where Big Red is expanding coast to coast adding more than 1,000 convenience stores. Will California, Florida and Alaska get to share in the 30-40 cent price hikes we have in the Midwest?

    https://www.springfieldnewssun.com/news/local/major-marathon-acquisition-means-enon-based-speedway-expanding-yet-again/KxhDzLeGZDiLjVL5ZpYJqI/

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