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

Updated: November 25, 2018 — 6:57 pm

26 Comments

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  1. I guess we’ll never see Friday’s spot report, but in response to the more than 12 cent drop in NYMEX futures the Chicago wholesale ( http://old.axxispetro.com/download/wisconsin-cta.txt ) dropped a whole 0.7 cents. The next hike may be closer than I thought.

  2. One of the Speedway’s is on alpine in Grand Rapids that was at $2.00 went up to 210 today and I believe Eaton Rapids had the cheapest prices in all of Michigan most of their stations went up to 239 today

  3. “‘…hikes in the 3 days before Thanksgiving are very unusual. I’m not sure I recall one.’ He was correct…”

    Very correct for Indiana too, and applicable to other driving holidays as well. The “holiday spike” is a thing of the distant past. Only conspiracy theorists (some of whom post here) still believe they exist.

  4. Actual wholesale at Chicago terminals last evening DROPPED 7.8 cents in the face of a 5 cent RISE in NYMEX futures on Monday. Clearly the “premium” of Chicago spot to NYMEX futures (index) is bouncing around day to day. It would be nice to know this from seeing actual spot prices but the last I see was posted the day before Thanksgiving. Anyone else have access to this data more recently?

  5. laetest updated spike prices shows lots of ohio still has some nice fat margins.. scored a 2.199 last night but lots of 2.30-2.35’s still around
    no one near testing the $2.00 mark round here !

  6. Spot at $1.34, Cincy average $2.26. Extra FAT margins indeed. Luckily I’ve been able to get gas for $2 the last week and a half. Stations about a mile from me are all trying to outdo each other. Topped off at Kroger for $1.989 this morning.

  7. Down to $2.08 in Niles MI
    South Bend IN at $2.10

  8. 3 Speedways and a Murphy USA at 1.91 in suburban Chicagoland. Lots of <$2 prices around.

  9. South Bend IN Costco down to $2.03 today.
    Niles MI the Walmart is also down to $2.03.
    SBN avg 2.24

  10. Lowest is $1.969 in the Toledo area!

    They had something on the news the other morning about $1.999 showing up, and I thought it was the kiss of death.

    Better enjoy this gift from Santa before the GREEDway Grinch strikes again!

  11. finally some prices NW ohio rt 20 corridor starting to reflect reality – 2.15 or so cropping up but lots of 2.25’s still around..and a few 2.5’s still in places !!
    no rush to fill up- margins still quite fat

  12. About 1/4 of all Speedways in the Chicago market are now under $2. Pretty strange compared to say Grand Rapids and Indy especially vs the usual differences between these markets. Not sure what’s up. Range of 59 cents from several at or near $1.90 to $2.49. Rather expecting them to do something with some of those under $2 before over the weekend. A move they’ve made at least a couple times this fall. Otherwise I’d be expecting a general hike here Monday.

  13. Some reason Grand Rapids Speedway’s are resisting $1.99. Was 4 at 2.00 this week then a couple went up to 2.09 and now one on West River is back to 2.00. Closest 1.99 speedway is in Lowell MI. Holland has a few at $2.00 also

  14. There are a couple of stations in the Lansing/Mason area that are at $1.70. The Kroger closest to me is holding at $2.17. They had been as cheap as anyone in the area, but not anymore. The cheapest Kroger around here is at $2.00.

  15. BTC- Kroger usually matches the lowest price in the area until they are getting close to cost. Then the division fuel office will take over pricing and decide when/how much to decrease.

  16. Up to 2.39 in Grand Rapids area just now

  17. South Bend IN – Speedway spiking to $2.39 now. Was down to $2.15 or $2.18 by ND.
    Costco & a few others have made it down to $2.02. SBN avg $2.179

  18. SW Ohio is spiking to $2.459 increasing the margins to about $1.10. Must be nice.

  19. token spike nw ohio rt 20 corridor to 2.299..so most places 10-15c
    saw a speedway spike from 2.239 to 2.299 !!!

  20. Speedway matching the UDF spike of $2.459 in sw Ohio. Didn’t want to miss out on that extra 16 cents/gallon I guess.

  21. having secured a couple 2.05’s in NW ohio over weekend..and plenty more2.10-2.15’s around, think that 2.299 reset may come again this week..and maybe stick this time as it lasted less than 2 days last…

  22. South Bend IN – Speedway by ND down to $2.29 after the $2.39 spike from the $2.15 on Tue the 4th.
    Costco up to $2.22. Next county east has some at $2.19 for the lowest in the area.

  23. Greedway just west of Kalamazoo just went up to 2.35. Spike today? If so Greedway is really piling it on.

  24. GREEDway really seems to be expanding their margins lately. What used to be the fattest margins is now the spike line essentially.

  25. Not sure for the reason of the Greedway jump to 2.35 yesterday just west of Kazoo but it didn’t stick and that one station is actually at 2.25 today.

  26. Nothing like that over here in the Ann Arbor area, Mike. Big Red is holding at $2.19.

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