Still keeping it under $3

Comment on the May 5 prediction: Prices dropped slowly that week, as CORRECTly predicted, but then we had a pair of hikes to $2.99.

Monday, May 27, 2019, 11AM: Where has this month gone? We’ve been bouncing around between $2.69 and $2.99 here in Michigan, while last week’s action in the futures markets suggest lower prices ahead. On Thursday the 23rd, oil prices dropped considerably, and in a sign that this would help gas prices go lower, Valero stock went down 6%. I think we’ll see retail prices trend below $2.70 as the week goes on, which is already the case in Comstock Park, and that will get us to the end of May. -EA

Updated: May 27, 2019 — 11:13 am

11 Comments

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  1. Indy spiking to $2.959/$2.999

  2. Yep, greedway sticking it to us again. They have no shame.. 2.999 in Kazoo area

  3. Back to $3.259 in Chicagoland after an unexpected jump in wholesale last night. Supposedly spot is being impacted by issues at one OK refinery. lol

  4. These last spikes have failed miserably. Big Red TRIED to get everyone to jump to $2.859 last week. Filled up for $2.319 this morning.

  5. After an unexpected 7c hike in wholesale last night back to $3.259 in Chicagoland today,

  6. Mike – Kalamazoo what do you think is a fair profit per gallon? Please keep in mind that paying with plastic costs the station about 6 cents/gallon

  7. If you ignore the rack adjustment that is in the Spike Line price calculation you come pretty close to the actual delivered cost of fuel in Michigan. Not sure where the calculation for the Rack Adjustment is coming from but it is not translating to actual rack prices in Michigan.

  8. just as prices start to creep towards 2.60 NW ohio RT 20 Corridor guess what..Speedway tries again 2.899 attempt wednesday afternoon..pushing the margin back to 50c plus.

  9. Oil at $57.10 currently and gas at $2.99. Spot prices must be on fire or Big Red is padding their wallets

  10. Chicago RBOB wholesale dropped 7c last night so me thinks the supply issue that generated the spike in spot is disappearing. Something was said about pipeline issues and the refinery in Lemont IL but that was supposed to be starting up again yesterday. Speedway does have a way of hiking the day prices start to fall which certainly results in good margins for a while.

  11. spike starting to crumble NW ohio
    station end of street 2.879 last night 2.699 this afternoon.
    just another 20c to go to get back into line with reality

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