Category: News

News updates in the gasoline/oil industry

The Lake Michigan Drive Gas Price War Begins!

Comment on the July 10 prediction:  3/4 CORRECT, 1/4 WRONG again.  There was a price hike on Thursday to $3.59 here in Michigan, with a higher price than predicted.  But, there was no price hike on Lake Michigan Drive (more on that below), and no price hike as far as I can tell in Fort Wayne, Indiana, which I also monitor.  But if you filled up Thursday morning, you probably got a deal.

Sunday, July 15, 2012, 7:45PM:  On Thursday, a brand new Speedway opened up on Lake Michigan Drive, replacing the old Speedway on the same site.  This was the same day as the $3.59 hike, and I can imagine the manager of Speedway wanted some extra business that first day, so they matched the $3.33 of the Family Fare across the street, rather than use the price sent in from Big Red Headquarters.  So, now that we have six gas stations along that corridor (BP, Family Fare, Speedway, Citgo, Marathon, and Meijer) — the most that I can ever remember — it will be fun to see if we get some gas war dynamics like the good people of Kentwood and Wyoming enjoy along 44th street.  As I post this, the LMD Speedway has the lowest price in Grand Rapids:  $3.31 a gallon, beating $3.38 in Kentwood.  Game on!

Weekly Report for 1/25-1/29/10

I will start doing a weekly report on Fridays with the following information.

($USD) Indy, Indiana, Michigan, Ohio
Chicago Spot Begin 1.9551
Chicago Spot End 1.8384
Chicago Spot Move DOWN -0.1167
($USD) Indy Indiana Michigan Ohio
Begin 2.4690 2.5490 2.6130 2.5520
End 2.5730 2.5810 2.6050 2.5150
Move UP 0.1040 UP 0.0320 DOWN -0.0080 DOWN -0.0370

PetroChina, Venezuela to build refinery (Moldova.org)

PetroChina said it had received government permission to build a new refinery in southern China to process heavy crude oil from Venezuela.The joint PetroChina and Venezuelan project will result in a refinery that can process 200,000 barrels per day, El Universal reported Friday.General Manager Jiang Jiemin of PetroChina's parent company China National Petroleum Corp., said PetroChina would own ...
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