First Price Hike of the Year is Coming, in Aftermath of Iran-Iraq

Comment on the December 29 prediction: No hike as we moved into 2020, so the prediction was CORRECT.

Sunday, January 5, 2020, Noon: The military action last week in Iraq (but involving Iran) was serious, and during our last hot war in the Middle East more than a decade ago, gas prices rose to over $4. However, it is premature to declare that World War III has started, and when it comes to predicting gas prices, our job on this site is to usually just consider the next few days. Energy prices rose on Friday, but not in an insane way, but it has moved us nearly into price hike territory. It looks like we land in the neighborhood of $2.69 on Monday or Tuesday. -EA

Updated: January 5, 2020 — 9:25 am

15 Comments

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  1. Nw Indiana already had a price increase on Friday. We will probably have another one really soon.

  2. Indy area spiking to $2.599.

  3. South Bend IN – Speedway leading the spike to $2.59. It was $2.41 by ND this morning.
    Costco went down .05 today to $2.29. SBN avg $2.433.

    In Niles MI a few miles to the north Speedway has also gone to $2.59.

  4. $2.859 spike in Ohio. WTF?!

  5. Back to $2.85/2.95 last evening in Chicagoland

  6. Looks like $2.69 is the new number in east Ann Arbor/Ypsi, led by Big Red and Meijer. Filled up yesterday at $2.38.

  7. Oil up 4% in the last couple hours on news that Iran is slinging missiles. Welcome to double spike week!

  8. Oil is now down. Typical overreaction by the night traders/traitors.

  9. 2nd spike within a week in NW indiana. Going back to 2.59 again. Lower than I thought it would go though.

  10. This is the latest failed spike. Three days after it hit I filled up in Sharonville, North of Cincinnati, for $221.9.

  11. You’d think Speedway would stop overshooting in Ohio. Going up 26 cents higher than Indiana. What were they thinking?

  12. EPIC fail in Cincy again. Quite a few UDF’s at $2.229 last night. Poor, poor Speedway.

  13. Well Chris, Speedway expanded to the east coast and the northeast and they found out something…they don’t get to control those markets. At least not yet. So they need to use the markets they control, with politicians who have long looked the other way, to make up for not being able to enjoy 40 and 50 cent margins during spike time.

  14. Here in Columbus zone pricing is the bigger issue. I don’t recall ever filling up without a study of the prevailing gas prices. An most of the time it’s much cheaper in Indy…

    The Speedway HQ in Enon looks wonderful, glad to see our money going to a good cause ????

  15. When Speedway formerly owned SuperAmerica (primarily in Minnesota) they regularly spiked like they do farther east. They sold SA to Northern Tier Energy which stopped the spiking. Speedway reacquired SA a couple years ago, rebranded them Speedway but never resumed the regular spike and dribble pattern. Go figure. I wonder what will happen once MPC unloads the whole Speedway enterprise.

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