Just need an excuse to go back to $2.39

Comment on the February 23 prediction: Completely WRONG, as markets have been falling hard since then, including energy markets.

Wednesday, March 4, 2020, 7:45AM: Sparked by coronavirus fears, energy markets have fallen 10% in the past two weeks, mirroring a similar move in stocks. Retail gas prices have followed, and I think we are at a point where Big Red and friends are looking for an excuse to re-set and clean up prices. This morning, in west Michigan alone, we have a wide range of prices, from about $2 to the $2.40’s. With futures signaling a stock price rally this morning, I would not be surprised if energy prices followed, and then we get the re-set in the neighborhood of $2.39. Today, tomorrow, or Friday. -EA

Updated: March 4, 2020 — 7:42 am

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  1. Both Circle K gas stations in Grand Rapids area went up to 239 today

  2. SW Ohio hikes to $2.399 this evening. That’s what I found at the UDF in Sharonville before heading to the GREEDway a block away for $1.879.

  3. 2.39 increase led by family express in Northwest Indiana

  4. RBOB taking an absolute beating. Big Red has to be LOVING these margins.

  5. No spike in Indy yet…

  6. Apparently the Saudis and Russians have had a break up in their relationship over how to handle the drop in oil prices due to COVID-19. The break up has S.A. announcing cuts to its prices and an increase in its oil production in an attempt to grab Russian market share. It slashed its popular medium crude by $7 a barrel to the U.S., by $8 a barrel to Northern Europe and by $6 to the Far East for oil deliveries next month.
    Should be interesting to see what happens.

  7. Circle K (Michigan and college) and Speedway (Michigan and fuller) $1.99 in Grand Rapids

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