Will Iranian tensions keep gas prices up? IDK.

Comment on the August 11 prediction: Almost CORRECT, as prices rose on August 12, but higher than I had predicted.

Sunday, August 18, 2019, 9:30AM: Based on Friday’s prices in the energy market, we have room to go lower in retail prices. The cheapest I can find near Grand Rapids right now is $2.51 (ignoring the Costco/Sam’s Club discounted prices), but we could easily be in the $2.30’s. The fly in the ointment is the ongoing tension with Iran, such as the oil tanker near Gibraltar this weekend. (Looking back at 21st century gas prices, the highest prices ($4+ a gallon) correlated with tension or war in the Middle East.) Nevertheless, I am going to hold off filling up this week until I have to, looking for cheaper prices.

In other news, look who settled a gas gouging lawsuit in Kentucky this summer. -EA

Updated: August 18, 2019 — 9:30 am

22 Comments

Add a Comment
  1. one or two places in NW ohio area touching 2.35 this weekend which is very close to the trigger point- but a lot of places nearby still above 2.55 which isn’t . could be an interesting week- in the meantime I will continue to enjoy the lowest prices for many months…

  2. Bunch of Stations already below the spike line here in Grand Rapids, also…..I would fill up before Friday, it’s not going too much lower….

  3. 2.75 reset here in West Michigan (Grand Rapids).

  4. $2.89 as expected in Chicagoland

  5. Prices jumped 20-25¢ in Isabella County today. I chalk it up to classes starting at Central Michigan University on the 26th. Nice way to welcome new students and their parents to the area!

  6. Epic fail of last week’s spike attempt in sw Ohio. Filled up for $2.229 Saturday.

  7. $0.39/gal. spread in the Toledo area today—don’t remember when they cranked it to $2.759 around here, but it was conveniently timed later at night, and didn’t see the new price until I was at the pump the next morning! ????????

    And right near the I-75 corridor is where the prices are still in the $2.70s, while 1.5 miles away, it’s $2.399! SMH!! ????

  8. $2.499 in Indy area.

  9. South Bend IN – Speedway $2.49 spike. By ND it was down to $2.27 this morning.
    Niles MI Speedway $2.25 still along with WMT & others.

  10. Mildly surprised at a hike to $2.89 today in Chicagoland. Speedway margins (if gasbuddy reports are reliable) were 5-6c better than just before last Wednesday’s hike.

  11. Unnecessary $2.699 spike in Ohio yesterday. We were 20 cents over the spike line…

  12. I see Chicago rbob is running almost .15 over NY….what’s wrong this week?

  13. SW Ohio spiked to $2.699 on Thursday. By Sunday it was slightly lower then pre-spike Wednesday. Complete failure.

  14. Indy spiking to $2.559.

  15. South Bend IN – Speedway $2.55 spike. By ND it was down to $2.30. SBN avg was $2.379.
    Time to visit Costco for $2.21.
    No change in Niles MI just yet.

  16. Speedway spiking from @2.33 to $2.79 in the Ann Arbor/Ypsilanti (Washtenaw County) area today.

  17. Somehow Speedway forgot Chicagoland last week leaving them with an average price at their stations this evening that is 35c below their price hike target meaning chain is losing money selling gas in Illinois right now I don’t feel bad for them, but this does mean a hike is nearly 100% certain Monday and I expect a $2.89.

  18. Worked out to a 60 cpg gallon hike at the cheapest ($2,29) Speedways . Doesn’t get much bigger than that.

  19. Indy spiking to $2.599.

  20. $2.759 in sw Ohio. Wow.
    Filled up for $2.11 at UDF.

  21. Oil dropping like a rock today. Time for Screw way to give us a big jump to maximize their profits? Naw they would never do that…

  22. Some of them are trying in Fort Wayne. Saw a handful of 2.69s yesterday and today, but most of them were sticking with the mid 2.40s. Although the west side saw mostly 2.30s, as low as 2.34.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please leave these two fields as-is:

Protected by Invisible Defender. Showed 403 to 1,744,096 bad guys.

 

TheGasGame.com (c) 2017 Frontier Theme