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

Updated: November 11, 2018 — 6:11 pm

11 Comments

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  1. SW Ohio spiking to $2.599 for some reason. Average price WAS $2.419

  2. Sw Ohio jumping to $2.599 for some reason.

  3. South Bend IN – Only Mobil / 7-11 is spiking around here so far to 2.68-3.06. Never seen them spike 1st before and a large price range. Most other stations are about 2.49. Costco 2.35

  4. Very odd, as UDF spiked first here. Everyone else, including Speedway followed. Spike put us $1.02 over spot, NOT including however much it dropped yesterday…..

  5. well didnt see that one coming !! 2.599 NW ohio..40c plus margin !
    cant see it lasting past the weekend though..both tanks I cars filled yesterday at 2.259

  6. Those hikes seem illogical unless there is some local disruption elevating cost. Here in Chicagoland we haven’t been even remotely close to hike territory in the past week (and yet a stations near me raised prices 10-15c Saturday night and lowered them Sunday) I assume the hikes Lou and Scala100 mention are not sticking. Speedway’s average price in our market is $2.459 but a hike would only be a dime over that.

  7. Sw Ohio jumped to $2.599 Tuesday as well. Let by UDF though. Not Speedway. Big Red, of course, didn’t hesitate to jump along with them.

  8. Figures… USA Today runs article titled “Gas prices plummet amid ‘bewildering’ decline for oil as Thanksgiving travel approaches” and we spike 20, 30, 40c/gallon depending on where you started here in Central Ohio. Snagged Costco at $2.129 on way home last evening while other locals were $2.599 but down to $2.559 already today.

  9. South Bend IN – It looks like Mobil / 7-11 is back down to where they were before they spiked. I don’t think any other stations spiked but them. SBN avg 2.440. Costco the low at $2.29

  10. well..as predicted the speedway that spiked yesterday to 2.599 backed down to 2.459 24 hours later. everyone else went to 2.479 or so and already dropped a few cents.
    normality should return by the weekend

  11. Spot at $1.52. Cincy average $2.56. Yep, time to take $10 draws until prices come back down to reality.

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