Comment on the April 17 prediction: Prices continued to decline, until we saw hikes popping up in the Midwest yesterday, including $4.09 in west Michigan. This was the predicted hike, but it happened a few days later than expected, so I’ve got to be honest and say I was WRONG.
Sunday, April 24, 2022, Noon: I am going to be clear that I wasn’t cheering the price hike this weekend, but it did settle my puzzlement at the clearance sale on gasoline we saw this past week. Looks like the retailers were losing more than 20 cents a gallon the late in the week, and on Thursday, I topped the tank at $3.59 north of Grand Rapids. Then I observed even lower prices in Lansing on Saturday morning. As I write this, many stations haven’t read the $4.09 memo yet (particularly in the Comstock Park area), so you’ll want to get that tank filled early this afternoon if you can. -EA
Lansing stations seem to be going to $3.99
$3.899 in Ohio. On a day RBOB is down 12 cents too….
$3.999 hike led by Speedway in Indianapolis.
$4.29 in NW Indiana led by Speedway with Family Express following.
Shell and Thornton’s have overshot the Big Red memo, and reset to $3.999.
17.8c rise in Chicago-Milwaukee spot blend today. Next hike should be quite soon and certainly higher than the tame $4.39 they did a week ago.
RBOB up 10 more cents today. I smell a pancake spike cooking.
$4.39 in NW Indiana today
Admiral(GPM Marathon) in Northern Michigan at $4.39 this morning.
Still no movement in NE IL by Speedway or others on gas prices. Speedway did raise all their stations’ diesel to $5.19 overnight though.