Big M Strikes Again

Comment on the November 18 prediction: Yes, prices fell below $3 in a lot of places, and a price hike stayed away until we got to December. Basically CORRECT.

Sunday, December 3, 2023, 2:00 PM: We started the year observing that, after Speedway merged with 7-Eleven, a different retailer was stepping up to be the new leader of price hikes: Marathon. With last week’s hike, I saw them in action again, posting the new price of $3.29 first, along Lake Michigan Drive in Kent County, on Thursday afternoon. The competitors did nothing that day, and I was crossing my fingers that the price hike would fail. By Friday, though, $3.29’s were starting to appear elsewhere in west Michigan, our first price reset in a month.

This was a normal hike — wholesale prices had stopped going down, and retail profit margins were close to zero — and $3.29 restores those margins to what they have been typically. But, our friends at Kum & Go are keeping their prices in check on Alpine and in Grandville, so you know where to go to fill up the next few days.

As we’ve been commenting, this is the time of year when gas prices are the cheapest. Enjoy while you can. -EA

Updated: December 3, 2023 — 1:57 pm

3 Comments

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  1. Carson City East of Greenville is maintaining their prices at $2.79 right now

  2. Filled up Wednesday at Sam’s Club in Cincinnati’s Monfort Height. Price; $2.699. I’ve also seen a few stations in Northern Kentucky below $2.70.

  3. That time of year for the average price to bottom out. After a 20c rise in Chicago RBOB spot the last 2 days combined with aggressive price cutting by Speedway our market seems primed for a reset next week (or even tomorrow, except it is Friday)

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