Comment on the May 4 prediction: Prices rose that Tuesday to $3.79, as CORRECTly predicted. We had another hike last week, again to $3.79.
Wednesday, May 21, 2014, 7:00AM: Other than that temporary ethanol effect, wholesale gas prices haven’t changed much for two months now, which is pretty amazing, particularly for the spring. That’s why we’ve wandering around in the $3.59-$3.89 area for gas prices since early March. We are back to the bottom of that range in places like Allendale, Cedar Springs, Sparta, and Lowell, but higher elsewhere. Will Speedway and her friends bother to re-set to $3.79 again today or tomorrow, or let the holiday weekend play out with lower prices? My friend Patrick at GasBuddy has been saying all week that we’ll get a hike. I’m going pass on making a prediction, though, but I will fill up in Allendale today. — Ed A.
I’ll predict yes, today or tomorrow. Listening to The River 100.5 on my way into work in Grand Rapids this morning, they were interviewing some guy from the Mich. Dept. of Transportation in regards to road construction projects. He said that Michigan is dead last in the COUNTRY as far as funding for Michigan roads. Isn’t that interesting since Michigan has one of the highest gas taxes in the country??
Prices at some stations in the Lansing area dropped 17 cents yesterday. I hope they don’t spike. I need to restock and take advantage of a 20 cent Kroger discount before the end of the month.
Gas is going up to $3.89 today in Grand Rapids
Ohio is jumping to $3.899 as well. Told ya so…..
Glad I kept topped off at 3.499…..
$3.899 is 25 cents/gallon above yesterday’s national average.
That didn’t take long. GREEDway never knew a gas hike they didn’t like, especially in advance of a holiday weekend.
Yep 3.89 Kalamazoo also..
Everything’s going up today. Turbo’s squirrels must have gotten loose in Libya because WTI crude is up nearly $2 bucks a barrel so far.
Usually we’ll drop at least 10-15 cents in East Central Indiana before spiking. We managed a whopping 4 cent drop this time. I’m up the street from ChrisDG74 working around Miamisburg and lots of Greedways greeting us with $3.89 as well
$3.89 Speedway spike in South Bend IN today.
Squirrel broke wind at a refinery, I’d guess!
GREEDway gets rich while everyone else suffers!
Children’s Miracle Network gets no more $$ from me until they dissociate from that company! I’ve written a letter to them stating such! (They’re making money off the backs of people who likely have to choose between gas in the car or food on the table.)
An upcoming holiday weekend and you dare not make a price prediction? All faith lost! Oh the humanity! Price in Greenville went from $3.48 when I drove into town to $3.84 when I drove out…and I just went to the POST OFFICE FOR A MINUTE! Well maybe 5…
At least we can say it isn’t at $4.15 or something like that….I guess…
I think we’ll soon get a bunch of new posters from the Mid-Atlantic region as soon as Speedway converts all of the Hess stations.
Something really strange. Diesel here in Fort Wayne is usually 20 cents more per gallon than regular. But right now,, it is priced on par. Hmmmmm.
I just saw that in the news Tuebor. That will put Speedway in 23 states and those residents soon will be able to enjoy the massive spikes just like the rest of us midwesterners.
Sam, you’re absolutely right about Michigan motorists already paying one of the highest fuel taxes in the nation. The kicker is all the sales tax collected from fuel is constitutionally earmarked for schools and revenue sharing, while a small amount collected from fuel and automotive products is statutorily earmarked for “PUBLIC TRANSPORATION”, so none of the sales tax goes to maintain our roads and bridges. Currently there’s also 19 cents excise tax collected that goes to road and bridge maintenance. With all the lottery ticket sales going to support schools they don’t need the taxes from gasoline. Now the Michigan House and Senate have differing views on how to pay for the road and bridge repairs. One way or another you know Michigan residents are going to be stuck with more taxes on fuel.
The HOUSE PLAN would SEND $370 million PER YEAR in SALES TAXES collected at the pump and on out of state purchases TO ROADS AND BRIDGES INSTEAD OF THE GENEAL FUND. (Those taxes should have been going to road maintenance all along). But advocates for better roads still see permanently raising fuel taxes or “user fees” as the simplest, fairest way to ensure there’s enough money.
A plan being discussed in the SENATE could put in place a 7.5 % tax on the wholesale price, with yearly 1.5 percentage point bumps until it gets to 13.5 % within five years. The fuel tax could equate to more than 42 cents a gallon in five years, more than double the existing tax. All I can say is that’s outrageous.
The gas price at the Kroger Station in Troy, MI just jumped 14 cents from $3.75 to $3.89.
Sorry, Doktor No. My crystal ball has been foggy this week. Big bleah on $3.89.
East-cost Hess’s are becoming Speedways? Wow, will they start playing the same pricing games in New Jersey? I used to live out there, and I can’t imagine that happening. Guido and his friends will have something to say to the station managers the first time that happens.
One Tough Nerd needs to explain to the people of Michigan why we are paying one of the highest fuel taxes in the nation and we also seem to have the worst roads. Wisconsin weather isn’t much different than what we have, and they keep their roads in better shape.
Looks like all it took was a holiday weekend to finally get everyone else to join in GREEDway’s spike. The last 3 failed miserably. Not this time. What’s the reason? Can’t be ethanol. E-85 is selling for $2.999 along my commute.
Local news report today.
http://www.wzzm13.com/story/news/politics/2014/05/23/high-gas-taxes-crummy-roads/9483261/
1200 stations in a bunch of eastern states. Not enough to have veto spike power. The cynic in me sees three scenarios:
1. they try the usual spikes and they fail.
2. they try the usual spikes and they succeed at first, but evoke serious wrath from people much more liberal than most Midwesterners
3. they do not try it at all but continue to play their games in our area, while buying off competitors there
I’d bet they will do #3.
Turbo46032… I don’t imagine Speedway has done the acquisition with the intent of implementing a different, less profitable, pricing strategy. Just MHO. In the Midwest markets even now where they do not really dominate (Wisconsin for example), they are much less spikey. I have no idea how many markets Hess dominates or has a large presence in.
I’m curious if anyone has downloaded gas price data from Gas Buddy for one of our three states (or all three) and done regression analysis on a year’s worth. It just might show that a state like Ohio is paying more than another state with the same taxes, and a state like Indiana is way overpaying. OR MEYBE NOT. I think the biggest reason for the spikes and drops is to confuse drivers as to the real actual price we are paying. Simply averaging prices isn’t enough, it has to be weighted with time spent at a price.
If you buy at the low week after week AND live in a low price zone you probably will come out ahead. If you buy at the low week after week but don’t live near a low price zone you pay more, and if you buy at any time….
Reset to $3.999 in Indy. 🙁
Guess Ohio can expect to see 3.959 in the next day or two. SMH.
Because 3.89 with crude around 102 is so unprofitable…
http://www.marketwatch.com/story/oil-dips-as-rise-in-supplies-expected-2014-05-28?siteid=yhoof2
Guess last week’s spike wasn’t good enough. A trickle down to $3.85 and BOOM, Delaware County Indiana cranking up to $3.99.
I guess this will reduce the sticker shock for my vacation to Hawaii later next week when I’ll be seeing $4.20-$4.40’s all over Oahu