How did we get to $2.69?

Comment on the July 7 prediction: CORRECT, as prices rose to $3.09 on July 10.

Sunday, July 22, 2018, 9AM: Since July 10, we’ve seen the kind of price reset DOWN that we treasure, with prices at $2.69 or lower in several areas of Grand Rapids this morning. So, what’s happening this month? Oil prices dropped 8% and NYMEX gas followed with a 16 cent drop. In fact, other commodities have been weak, too, such as gold. All this is probably connected to a strengthening dollar and higher interest rates.

So, what’s the plan for gasoline this coming week? Think of $2.69 as a clearance sale price by the retailers, and the moment that we get an uptick in wholesale prices, retail will follow with a price hike. That should happen this week, and it looks like $2.99 could be the new price. -EA

Updated: July 22, 2018 — 9:31 am

23 Comments

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  1. 2.499 at Costco yesterday in Dublin OH.

  2. Expecting a hike in Chicagoloand today.

  3. Indy spiking to 3.059

  4. Indy spiking to 3.059.

  5. South Bend IN going to $3.04-3.05 today.
    Speedway by ND was down to $2.59 this morning, now $3.04.
    SBN avg was $2.72. Filled up at Costco for $2.55.

  6. Some Indy Speedways went to 3.09 and settled on 3.05. Glad I filled up this morning for 2.59 at Shell w Kroger discount.

  7. just seen a 2.589 NW ohio rt 20 corridor tonight -10c below the line and plenty of 2.65-2.69’s around also- cant last..2.899 coming soon for sure tomorrow

  8. Speedway leading the way to 3.09 Grand Rapids today. It was nice while it lasted.

  9. It looks like several Speedways in the mid-Michigan area may be going to $3.09

  10. Ditto for SE MI. We don’t have a GB price hike warning but one Speedway and a Meijer are at @3.09 now. Had my wife fill her car this morning @ Meijer with her .10 off (Meijer credit card) for $2.67, a penny above Costco/Sam’s.

  11. Spot seems to be on a slow, but permanent upward trajectory. Wouldn’t be surprised to see $3.15-$3.19 next Tuesday

  12. With a current Spike Line of $2.86 in MI, Chris, I think that’s very likely to happen unless there’s a dramatic uptick in inventory. From what I saw, this week’s report showed a “surprising” draw down of 1.1M bbl.

  13. Haven’t seen anything above $2.999/gal. in the Toledo area this year, IIRC. I’m sure that’ll change!

  14. Drove to central OH today for a dog show. Was pleased to find gas at $2.59 just off US-23, Upper Sandusky exit, at a Love’s. Got back on 23 and immediately saw two signs advertising gas for $2.57. Hopefully it’ll hold through tomorrow and I can fill up on our way home.

  15. the NW ohio spike is very confusing this week. some stations that went to 2.899 Tuesday are back at 2.699- some are still up there..some did not budge and are down to 2.65 or so.. bottom line is a lot stations are below spike this weekend. are we going up or down??. the inconsistency in pricing makes playing the game more important. filled em all up for 2.629 tonight !!

  16. Expecting a 2nd straight Monday hike in Chicagoland…dime higher than the last one…$3.159 outside Cook County.

  17. 2.42 in Costco in Columbus Ohio…

  18. Indy spiking to $3.099

  19. Indy spiking to $3.099

  20. South Bend IN – 2 Mondays in a row. Spike to 3.09 this week, up .30.
    Costco 2.75

  21. once again day a big fall in spot= big rise in prices..coincidence?..2.959 NW ohio corridor so back to 30c margin instantly

  22. Once again the spike in SW Ohio is falling faster than a 2-legged stool. We have no problem finding a UDF that is 25 cents lower than the this weeks $2.999 reset.

  23. Venture just north of of Cincinnati in sw Ohio, and gas can be gotten for $2.559 all along and around By-pass 4 in Fairfield and Hamilton. Poor, poor Speedway.

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