Month: November 2018

Early Christmas Present: Gas Less Than $2!

Comment on the November 18 posting: In the comment section, Jim Kaplan wrote, “At least in Chicagoland, hikes in the 3 days before Thanksgiving are very unusual. I’m not sure I recall one.” He was correct, and I was WRONG.

Sunday, November 25, 2018, 7:00PM: Oil and wholesale gasoline prices got roasted on Friday, and that’s why you see $2.00 a gallon in northwest Kent County (Michigan). Let’s enjoy it while it lasts, but before that latest sell-off, we were in price hike territory, so any reversal to the upside in the energy markets, and I think Big Red will try to reset into the $2.30’s. Until that happens, seek out $1.999. -EA

Let Us Give Thanks For Lower Gas Prices This Fall

Comment on the November 11 posting: Further retail drops, as predicted. CORRECT.

Sunday, November 18, 2018, 5:00PM: In the past week, oil prices fell nearly 10%, wholesale gas prices not so much, but retail prices keep trying to find a floor. This evening, a gallon of gas is $2.16 on Alpine Avenue, northwest of Grand Rapids, which sits below what I calculate as the 0-margin price: $2.29. Because retail prices are all over the place (as high as $2.51 elsewhere in GR), I would not be surprised if Big Red and others decide on a pre-holiday price hike this week, to reset everything to $2.49, which is still wonderfully less than the over $3 prices we saw at the beginning of October. Best strategy is to fill up on Alpine on Monday. -EA

It’s Down Again, Naturally

Comment on the October 28 posting: No hike since then, so “no rush to fill up” was CORRECT.

Sunday, November 11, 2018, 6:00PM: On October 3, oil trading closed at $76.41 per barrel. Then the slide began, and by this Friday, we are now down over 20% to $60.19. This is why you can buy a gallon of gas for $2.21 in Sparta this evening, and I am surprised there are still prices above $2.60 in the area. Let’s enjoy it while we can, and unless we see a reversal in the energy markets, you can expect further retail drops. Look for under $2.40 to fill up.  -EA (c) 2017 Frontier Theme