Comment on the May 10 prediction: No hike to $1.99 last week, as wholesale and retail prices remainded stable.
Tuesday, May 19, 2020, 8PM: April 20, oil at negative $35 a barrel. A month later, $32.50. Somebody made some money. Meanwhile, certain neighborhoods have started gas gaming again, others aren’t. So, we see some places where they take a penny off of prices each day or two, while a lot of stations in west Michigan have been stuck at $1.89 for more than a week. The last two days, wholesale prices are ticking up, so I am going to try again and predict a hike to $1.99 before Memorial Day weekend. -EA
Based upon what I’m seeing in GasBuddy, I’m thinking a spike to $1.99 might be underway in mid-Michigan
Looks some are doing the same in Grand Rapids $1.99
$1.999 in Ohio. Unreal, almost doubled in two weeks.
Indy area also spiking to $1.999
South Bend IN also spiking to $1.99. SBN avg was $1.83. Costco $1.69.
Niles MI also 1.99
$2.35/2.39 showing up at a lot of Chicagoland stations.
Gasbuddy indicates a significant rebound in gasoline demand since the low point at least nationally. Still no significant price cutting by Speedway after each recent new high was reached. I wonder if inside sales which make the money during normal times are still more depressed relative to gasoline sales.
$2.099 in Ohio.