Comment on the July 1 prediction: Despite higher oil prices, gas prices stayed below $3, so I was WRONG.
Saturday, July 7, 2018, 9AM: Wholesale prices have been steady, while retail prices have slowly slid lower, and we are getting close to price-hike territory. Price drops of another eight cents or so will trigger it, and I expect we’ll be there by Tuesday morning. Probably back to $3.09. -EA
Indy appears to have pulled the trigger on 3.09 this morning.
Michigan 309 also
wide range in NW ohio RT corridor 2.899 in places..2.649 in others
hard to call the next move, right on line in some places, 25 cents above in others but i know which end of commute I am filling up at !
big fall in spot= big rise in prices
2.959 back in NW Ohio RT 20 corridor so 37c margin again
And, as per tradition, sw Ohio jumped to $2.999 instead of $2.959.
Interestingly enough, the spike doesn’t seem to have happened at many stations as there are many still in the 2.80s and some in the 2.70s.
some stations in NW ohio only went to 2.859..and several are back at 2.799 this morning
Brent & Crude is hel-SINK-ing. Crude dipping into the $66/bbl range or -4%.
We might actually go this week without a gas spike Bearcat. Of course there’s still 4 more days until Friday where a random headline like “US gasoline inventories suddenly dip” or “tension in Timbuktu forces a massive drop in crude shipments “, can crank the spike machine right back up