Sunday, November 7, 2021, 5PM: Usually during the fall, we see gas prices work their way lower, bottoming out in December. It started to look in late October like we would get back into that pattern, but oil has now pushed above $80 a barrel. And ethanol, what are you doing, with a spot price over $3 a gallon? It’s all a recipe for higher prices, and that is why we saw the hike to $3.49 the other day. It was a slow-motion hike, because it looks like it is also a gambit to increase margins (i.e., profits), which never seems to last for long. Who is happy about gas prices this year? Owners of Exxon-Mobil stock, which has doubled in the past 12 months.
Need to fill up? See if you can hold out until Wednesday. Or drive to Rockford, where prices are $3.18 today. -EA
If ethanol is selling for nearly $1 more than spot gasoline, how can E-85 continue to be sold for less than E-10? 30c less at Speedways here these days.
I went back into Covid lockdown to avoid the pump. Lol
Got use to staying home and saving 100% on gas. Bicycle works good for me to get out of the house. What the heck I’m retired in the cheap seats.