Current Price Target is $3.39

Comment on the April 16 prediction: CORRECT, as we saw no hikes the past two weeks, and slowly dropping prices.

Sunday, April 30, 2023, 2:00PM: We are having one of our occasional data issues from our source for local CBOB/RBOB prices, so apologies to those following The Spike Line. It also makes it harder to analyze and predict, but using widely-available New York prices can give us a clue. Basically, wholesale prices have been drifting lower, following oil prices, and retail prices have followed. For instance, for the Fort Wayne stations I monitor, after a hike to $3.75 on April 11, prices have been working their way lower, now $3.34. Retail prices have been stickier, in west Michigan though.

What’s next? The beginning of May is always a good time to take stock, as summer approaches, and I doubt we are going to get a repeat of the upward price shock that occurred in late May/early June last year. My plan this week is to fill up for as close to $3.39 as possible. So, I am heading to Hudsonville later this afternoon! -EA

Updated: April 30, 2023 — 1:35 pm

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  1. South Bend IN – Costco just went to $2.99. SBN avg $3.294

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