It’s been quiet, maybe too quiet

Comment on the March 7 posting: The stealth hike became a real one by Monday, as prices rose to $2.89.

Sunday, March 21, 2021, Noon: Somehow we have made it two weeks without a price hike, and in west Michigan, prices are down in the $2.40’s in some places. Wholesale prices have plateaued lately, and there was a notable dip late last week, with oil going from $66 to $60 a barrel. I think that dip kept a lid on retail gas prices, as we were all set up for the price-hike-followed-by-wholesale-dip dynamic that we often see. It is hard to predict what happens next — in the $2.40’s, retailers are selling gasoline below cost, but there are many stations in the $2.70’s and $2.80’s. If oil prices tick up on Monday or Tuesday, we’ll see a reset back to $2.89. If not, we could be in a third week of slowly falling prices. Advice: find that cheaper gas on the Alpine Avenue corridor. -EA

Updated: March 21, 2021 — 10:05 am

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