It has been relentless since Thanksgiving, and here we go again

Sunday, March 7, 2021, 1PM: Here are the closing prices for a barrel of oil each Friday since Thanksgiving: $45.34; 46.26; 46.57; 49.10; 48.23; 48.40; 52.24; 52.36; 52.27; 52.20; 56.85; 59.47; 59.24; 61.50; 66.09. What a great investment — over 40% in a little more than three months. Is it any wonder that gas prices continue their march to $3 a gallon? This weekend in the Grand Rapids area, there seems to be a stealth hike in progress, with some $2.79s showing up, and even a few $2.89s. So, fill up as soon as possible today, and we’ll see what’s next. -EA

Updated: March 7, 2021 — 1:07 pm

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  1. They aren’t even bothering with the Tues-Thurs spike routine anymore. Early morning / well after 5pm on monday 2.89 spikes over Flint & township

  2. South Bend IN – Phillips 66 went to $2.89 on Sunday, nobody else has followed yet. At least 2 spikes in a row lead by Phillips 66. Filled up at Costco yesterday for $2.48 just in case. Speedway by ND down a bit to $2.65.

    Niles MI – A few miles north the Niles Speedway and WMT are at $2.85 & one Phillips 66 at $2.89.

  3. SW Ohio is doubling down on the $2.799 spike price of a week ago.

  4. The imminent end of Speedway looks to mean higher prices on average, at least in Chicagoland. Speedway’s last spike to $2.99 on the 6th has not retreated much. But on Friday-Saturday 2 other corporate enterprise with a sizable number of company owned stores in this area, Circle K-Shell and 7-11 went to $3.19. So if they will be the new price setters we are in trouble. Then again, while I was out shopping this morning – passed a Speedway at $2.89 on the way there and on the way back THEY were at $3.19. Speedway app shows many have gone up. So a rare Saturday hike one weekend followed by a Sunday hike the next, Spot and wholesale trends through Friday didn’t remotely warrant this, but Monday is the day summer blend kicks in so maybe there is a supply crunch in that.

  5. Looks like prices are in a very rare, as of late, price spike range. I cannot remember the last time I saw a negative sign in the spike line price. Seems like well over a year ago…Pump prices around ne are pushing 20 cents under the spike line. Guess I better fill up for $2.57 because I’m thinking at least $2.89 if not higher any minute now? Jim said $3.19 in Chicago…might Indiana break the $3 barrier? Seriously, I was only joking a month ago when I said by spring.. SMH.

  6. South Bend IN – Phillips 66 was the only 1 that went to $2.89 on Sunday 3-7 & ~ half of the 36 are still there. Speedway down .04 since then to 2.61. Costco 2.46, SBN avg 2.68.

    Niles MI – A few miles N the Speedway is at 2.49 & WMT 2.48. The Phillips is $2.85.

  7. Crude in a free fall today; under $59/bbl, -9%. Hopefully it is the end of the Winter oil/gasoline rally.

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