Comment on the August 22 prediction: CORRECT here in Michigan, where prices continue to fall under $3, although not very much in select neighborhoods.
Sunday, August 29, 2021, 1PM: We saw a price reset in Ohio at the end of the week, to $2.99, suggesting something similar is in the works for other parts of Big Ten country. Let’s see what is going on. Last week, oil prices recovered from the previous week’s swoon, putting the brakes on any big drops in gas prices. It appears that retailers are paying about $3 even a gallon to fill up their tanks in Michigan, so they are going to get itchy with prices below $3. You have $2.65 right now in Sparta, but $3.16 in the northeast quadrant of Kent county, so which prices will have the most influence on the next decision from Big Red and others? I suspect it is those lower ones, and late word is that we have some price hike activity this weekend in Indiana. I am going to proceed with the prediction that we’ll see a reset to $3.09 early this week. -EA
$3.19/gal spike In Grand Rapids Michigan
Indy area – $3.199 Greedway hike.
Expect some hurricane spikes in the next few days. Double-whammy.
ChrisDG74….So far today September futures response has been fairly tame, 3-4c. I think a lot of last week’s rise in NYMEX (and therefore spot) was anticipation of Ida. If that doesn’t go up much more, maybe we escape another hike. We got our hike 5 days ago, so we might be more at risk of a second.
$3.19 in Northern Michigan, up from $3.04.
Up to 3.099 in Ohio. Doible-whammy. Muted, but still.
Lowest is $3.09 but too far away for me in central Indiana where $3.19 seems weeks old *facepalm* I felt lucky to be able to go to a speedway that was at $3.15. (I have to use Speedway because my grandma gave me a $500 speedway gas card)
The $3.099 spike in SW Ohio didn’t last very long. In many places it is below $2.90 and some are lower than pre-spike. Nice try though.