During Lent, No Price Hikes. Lent is Over Today.

Comment on the April 10 prediction: It wasn’t so much a prediction as an analysis, but it was CORRECT in that we saw oil prices drop early in the week, and that kept us from getting a price hike. However …

Sunday, April 17, 2022, 9AM: Here were the closing oil prices last week: $94.29; $100.60; $104.25; $106.95; closed for Good Friday. So, after a headfake lower, they ramped them into Easter, setting us up for a price reset as early as Monday. Given that the last price hike was March 7, near the beginning of Lent, I guess it is time. Based on what I know about wholesale gas prices, I would not be surprised by $4.19, plus-or-minus a dime. I recommend filling up today in Comstock Park, at $3.51. -EA

Updated: April 17, 2022 — 9:20 am

6 Comments

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  1. GPM Took their Admiral stations to 3.89 on Friday 4/15, some are responding, some are not. Speedway has been slow to move since the sale.

  2. Jeannie- agree that Speedway has been slow to move here in IL especially since the first of the year. Got a lot of stations selling at a loss here. Expect a big hike tomorrow to $4.59, maybe staged over 2 days because otherwise many stations would be going 50-65c in one jump.. Others, notably Shell and some smaller chains have raised prices without waiting for Speedway 2 or 3 times in the last several months.

  3. Yeah Speedway still hasn’t moved here in NW Indiana. Family Express has, but most stations still have not gone up and are selling at a loss. Maybe today?

  4. Double digit losses for NYMEX RBOB futures and presumably good losses in Great Lakes spot. I’ve seen Speedway finally hike at a similar point in the cost cycle several times before to lock in profits. Will see what happens this afternoon and evening.

  5. Speedway watched NYMEX RBOB drop 13c today (Haven’t seen Chicago spot) and decided to only go with a $4.39 hike this evening. That also avoids the “bad optics” of stations jumping 50-67c at one time to the previously anticipated $4.59. If spot rebounds Wednesday though. we may get another hike to complete their unfinished business.

  6. Shell stations going to 409 in West Michigan, will others folllow?

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