Sunday, May 8, 2016, 10:00PM: I’m looking for a price reset on Monday or Tuesday, maybe back to $2.39. Prices have dropped nicely over the past two weeks, and the estimated price-to-retailers tonight is $2.08, which matches prices I am seeing in certain places around Grand Rapids. Throw in some international oil tension this weekend, and it seems the wisest course of action is to fill up Monday morning. -EA
We already had our “Indiana prices 2.15, national 2.25” segment on the radio (Trudy Lundberg) so a spike is imminent.
What I would really want to know is where are all those mythical 2.09 prices outside Sam’s or Costco and how they cancel out the plethora of 2.24’s out there.
I mentioned this year’s ago that the way state average is calculated does not necessarily consider volume, so a 2.09 in Sheridan IN that sells little cancels out a 2.29 in Carmel that sells a lot more.
Nevertheless it seems to me that the days retailers took deeper losses at the bottom of the spike are gone, and now spikes are from retailer cost UPWARDS for most stations. This makes it a win win for them since most retailers (see volume comment above) do not come anywhere near selling below cost at the bottom of the price.
While I’m ranting here let me rant a sidebar about premium being 50c extra… Mothballs are expensive I suppose 🙂
few spots in the rt 20 NW ohio corridor seem to be in deep discount mode today..seen a few 1.92-1.95 range..but 10 miles up the road is 2.15-2.19 still
with memorial day creeping over the horizon this cant last but will it be 2.299 or 2.399 this week..then 2.49-2.59 next? with one station at 1.919 tonight a spike to 2.399 this week is a 25% increase in one hit
mind you as i like to remind, even at 2.20 gasbuddy reports 30c a gallon less than this time last year and we peaked in June at 2.799 round here before the August Whiting “issue” – remember that one ? spot went up a buck in 2 days sending prices from 2.20- 3.00 in a double hitter marathon spike
Currently an 80-cent spread in Ohio. We SHOULD be safe for a bit.
If what I see on GasBuddy is accurate, looks like gas is going up to 2.29 in mid-Michigan.
Greedway leading the hike to $2.29 in Grand Rapids/West Michigan.
and there off..spike to 2.299 coming
the station I filled up at 1.899 2 hours ago is now 2.299
a lot places still around 2.10-2.15 mark so its not a major spike there- it seemed some areas were deeply discounted so it couldnt last..but it was good for the week of sun $2.00 prices in places while it lasted
There will be one more spike pre Memorial Day…. 2.29 isn’t worth using the pole to change prices 🙂
Spot gasoline up 14 cents yesterday and so far today, next hike might not follow far behind.
South Bend IN – Speedway spiked to $2.29 earlier today. The 2 Speedway’s by ND were $2.12 this morning. Time to visit Costco for $1.94.
2.29 in Kazoo area now..
It had to spike sometime..well at least Big Red said it did. Filled up in New Haven for $1.99 this morning before driving back home. I bet there will be two more spikes before Memorial Day. One on the 17th-19th and another one right before the holiday weekend on the 26th.
GREEDway waited until past noon this time to lay the $2.299 spike on us. On the West side of Cincinnati the spike will have little affect since many of the stations there for the past week were stuck at $2.299 anyway.
Ohio was still 75 cents over spot, pre-spike……..
Unless rack prices are out of whack, there was no reason to spike in Ohio.
Fairfield seems to have been holding lower than surrounding areas ChrisDG74 with past spikes. I wonder if it will weather this spike as well?
I’m 2 miles from the Kroger and UDF at Pleasant Ave in Fairfield. As of 6:45pm, they were still $1.939.
Super America taking it easy on the Minneapolis/ St Paul area today with a mini spike to $2.099. Probably cause their $.20-.30 spikes haven’t been sticking at all the past several months.
Just an FYI:
Read an article today about Glencore. Looks like they currently own 30% of all June Brent oil contracts……
I smell manipulation.
I’ve noticed several stations already backing off the spike as much as 10 cents. Makes you wonder why they spiked in the first place. Two words….BIG RED
Unfortunately, the $2.299 from the last spike is still common in much of the Toledo area, with maybe a five cent drop in some spots. Along the Michigan border, things seem to be easing more–lots of $2.099s up there.
There is one station in suburban Sylvania showing $2.499. My prediction is $2.599 next Thursday. Because..GREEDway.
According to gasbuddy.com, Indiana and Ohio were number one and two respectively with the largest average gas price increases last week (imagine that!) Oil is on a tear today nearing $48.
That should equate to a spike this Thursday and another one next Thursday. The one next Thursday has absolutely nothing to do with Memorial Day weekend though lol
Why would crude not be on a tear? The “free markets” are running the show, speculation galore. Memorial Day coming…
http://mobile.reuters.com/article/idUSKCN0Y703M
Looks like Speedway is trying again… 2.45
GREEDway spike to $2.459 in Ohio.
Looking like 2.599 for Mem. Day weekend is a go.
South Bend IN – big red up 1st, $2.45 SBN avg $2.22
Niles MI holding at $2.15-2.29
Time to visit Costco for $2.11.
This has a Pro Wrestling feel to it, after you watch enough matches you pretty much begin to see the next move coming, a dance more than a contest.
here we go again..2.059 to 2.459 in NW ohio corridor in places..though lot stations still around 2.15 when it started. watch it fall back quickly by the weekend to around 2.30 then the 2.599 pre memorial day round next week
They may not let it slide back quickly so they can reach the $2.69+ range for next week’s spike. The speculators are licking their chops
Ohio had an 80 cent spread, pre-spike. Seems like an unnecessary spike…
I agree its unneccssary..but it almost memorial day..remember ??..the start of “the summer driving season”..where i drive LESS because kids are not in school and I take time off work so commute 5 miles to the lake to boat and fish not 100 miles to work
well an amazing reaction to the spike. Handful of stations unchanged so far at 2.05. BP seems to have put all its stations to 2.45. marathon put its to 2.30 so its really confusing
I am confident of scoring a 2.05 on way to work in the morning..take the car with the most empty tank and fill it up
Two spikes in one weeks time. Parts of Cincinnati have not dropped at all since the last spike.
Looks like the drive up to 3.00 gas is on, because they can.
One of the things I have brought up before is that the DEEP Discounters, are about 2% to 5% of the stations out there, and probably sell that or a lower %age of the gallons sold, but when they get to the bottom of the Spike Line, EVERYBODY falls into line and we (as the customer) get screwed. I still cannot see how the wild swings in prices helps the average consumer. Those of us following the pricing get a leg up on the others, but still, one whole year of dropping prices can be completely wiped out in just 3 or four of our common HUGE JUMPS.
The Kiss of Death……………
http://www.cnbc.com/2016/05/19/cheapest-memorial-day-gas-in-11-years.html
Should have a disclaimer on there **cheapest except for those living in Greedway states**
Does anyone know if Greedway has started their pricing hikes in any of the new states they have moved into? Some people gonna be mighty upset….
They can’t do it until they have a market share similar to what they have in OH,KY,IN,IL,MI,WV.
Also, some states they’ve moved in to, have minimum mark-up laws, so playing their spike and feather game would be suicide.
If they have minimum mark up laws, they should have maximum mark ups too…Greedway would love that!
Gas prices already down 20 cents off last week’s spike. Dropping ’em fast so they can pump ’em up in a few days. I wonder if they’ll test out $1.10-$1.20 margins and go for the $2.69 range or will they “cut us a break” with $2.59? We’ll know very soon
My bet is 2.59. But Big Red didn’t get their nickname for nothing..so 2.69 wouldn’t shock me at all.
I’ll play.
$2.79 by this time next week.
Now they’re blaming the Canadian fires for supply disruptions.
And any mention of gas prices is a license for GREEDway to fire at will, so….
Last spike is really sticking in sw Ohio. Average is still $2.42.
Luckily there is a lot of $2.249s along my commute. Probably going to fill up Wednesday morning, in anticipation of Thursday’s spike(however high it may go)
Same here in Fort Wayne. Driving in to work, lowest asking price is $2.37, down 8¢
Welp. $2.599 spike under way in Ohio.
You have GOT to be kidding me.
We’ve gone from $1.25 to $2.59 between Valentine’s Day and today.
Only in GREEDway country.
We can now say that we are within easy reach of $3.00 gas. AGAIN!
Surely only temporary but OH and MI have leaped past IL last spike price by a dime, which is quite unusual.
Yep was wrong about the 2.59 for this week. The Greed boys just jumped to 2.59 a few minutes ago, so 2.89? A double for the week? Maybe Trump will deport um…
$2.60 in Grand Rapids
$2.59 spike here. We were almost 90 cents above Chigaco Spot this morning but hey, don’t let full-figured margins get in the way of a good GREEDway spike.
well..got blindsided by that 2.599 when i got home..still 2.25 at start of my commute
looks like it playing the gasgame on the way to work in the morning trying to sniff out the pre-spike prices..i have several opportunities so confident of scoring a sub 2.30 still
if all else fails wait till empty and use my accumulated BP rewards 45c a gallon discount later in week.(saved for just this type of event).making sure i take the gas can along to maximise the 20 gallon limit..the jeep only takes 18 after running on fumes so make sure fill the 2 gallon can for the mower also !!
Going up to 2.559 in the Indy area.
Some stations nearby have already dropped down to $2.15. I’d better tank up quick before the 44 cent increase happens in the next 24-36 hours (GREEDway is sooooooooo predictable)
Gas has doubled since early February and spot has tripled. WTI crude nearing $49 today. I’d say it’s time for the frackers to start fracking again