Sunday, February 27, 2022, 7PM: Oil prices spiked temporarily to $100 a barrel last week, as Russia invaded Ukraine. It then fell back towards $90, but in early Sunday night trading, we are back to $97. The spike to $100 led to an unusual kind of hike here in west Michigan. On Thursday, Speedway and friends set the price at $3.49, but Marathon and its friends said “hold my beer” and went to $3.59. By Friday afternoon, Marathon won and prices were $3.59 everywhere.
What’s next? Tell me what happens next with the war in Ukraine, and I will tell you. Hard to play the Gas Game right now. -EA
Marathon does supply gas to Speedway under the sales agreement to 7-11 so it makes some sense, Here, Thursday’s hike from Speedway was trumped by 20c by the Circle K Shell enterprise and some other small chains so on Friday Speedway “gave in” lol. I guess the one known factor in prices now is the upward pressure of summer blend phase in, I would expect one hike this week at a minimum, pushing Speedway above $4 in all Chicagoland locations.
SW Ohio bumped up to $3.599 yesterday led by UDF.
RBOB over $3.10 now. Another jump this week wouldn’t surprise me, honestly.
$4.09/4.19 in Chicagoland this afternoon. Not finished for the week most likely.
Indianapolis area hike to $3.799 led by Speedway.
3.799 in NW Indiana led by Family Express
Speedway adding on another dime. $3.699 in Ohio.
Prices
Too the moon
???
Sizing up to be another no road trip year.
RBOB up another 26 cents so far today. We could hit the trifecta of price jumps this week.
ChrisDG74….Here Speedway hiked yesterday, and today, chasing Circle-K shell upwards, they hiked again. Absolutely expect at least one more hike in the next 24 hours.
Gone from 3.179 to 3.599 to 3.699. How high will Big Red push it today/tomorrow?
Well I just answered my own question. Speedway is adding another dime. 3.799 is the new price this morning.
Looks like 3.89 in Indiana today.
First time Speedway led an increase in NW indiana in a while.
$3.89 in Anderson, Indiana
3rd increase this week in NW Indiana. $3.99 led by Family Express
Likely over 4 bucks by Monday in central Indiana. Prices rocketing up like Elon Musk Starlink satellites.
RBOB up another 26 cents today….. yikes.
Methinks the commodities traders are getting ahead of themselves.
Indianapolis area hike to $3.999 led by Speedway.
Chicago spot soared 42c cents today. Looking for $4.59 tonight or Saturday in Chicagoland.
Welp, when the summer blend switchover kicks in I guess we’ll see prices at the pump close to $5 bucks a gallon. 2008 looks like child’s play from the makings of this “perfect storm”
A couple of $4.09/gal showing up this morning in West Michigan?
$4.25/gal at some stations in west michigan Sunday morning