Comment on the January 7 prediction: Pretty much CORRECT, as prices reset last Monday. But, we saw $2.99 instead of $2.89.
Monday, January 15, 2024, Noon: There was a spike in wholesale prices Wednesday in the Midwest, which seemed to be tied to the big storm that we faced this weekend. Today, trading markets are closed, so we won’t know until tomorrow about wholesale prices, but I suspect they will drop. Meanwhile, a handful of stations here in Kent County tried a small second hike to $3.09 over the weekend, but I don’t think it is going to amount to anything. Then there are other stations that were never enthusiastic about last week’s price hike and are in the $2.60’s. My prediction is to see stations above $2.89 cut their prices some this week while wondering if some of those in the $2.60’s look to raise their prices. The latter rarely happens without a system-wide reset, though. -EA
Big Red leading the charge to $3.199 today in Ohio. Seems a tad overdone, like usual.
Indy area hiking to $3.199 as well.
Somewhat surprised to see $3.39 in IL today. Wholesale this morning was just a nickel higher than Wednesday last week when Speedway went to $3.19, and there was little dropoff after that hike.
$3.19 NW Indiana, led by Family Express.
Ohio spike price $1.40 over spot. Beyond ridiculous. Glad I filled up in the morning.