Stars Are Aligning for a Hike Back Above $3

Comment on the January 21 prediction: Pretty much CORRECT, as prices slid below $3 in most places in west Michigan and stayed much lower in the Grandville/Jenison area.

Sunday, January 28, 2023, 2:00PM: The price of a barrel of oil rose $5 last week, but wholesale gas prices didn’t do anything. The stock price of gasoline producer Valero (VLO) jumped, though, usually a sign that gas prices are rising, or are about to. It appears the stars are aligning for a price reset by Wednesday, perhaps to $3.09, but maybe $3.19. Gas is still $2.62 in Grandville today (hint, hint). -EA

Updated: January 28, 2024 — 2:10 pm

23 Comments

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  1. Spot at $1.77. Yep, sounds right for Ohio to jump to $3.099. “Amazing” how these margins have widened.

  2. Whiting Indiana BP refinery down. Be prepared for the likely price hike.

  3. Squirrel probably got into the wiring, and started the fire. It’s not February without a Whiting issue.

  4. Well fortunately the impact will be nothing like the August 2014 outage that saw Speedway spike 3x in 3 days totalling 90c in this market.

  5. Indiana and Indianapolis hike to $3.199.

  6. South Bend IN – Family Express, $peedway, Mobil-11 spike to $3.19 underway here. Costco $2.64. SBN avg $2.81, up .05 from yesterday. $peedway was $2.84 by ND.

  7. $3.39/3.49 in Illinois. Still lower margins by 15c or so than we might see in summer.

  8. $3.19 in NW Indiana led by Family Express. Still waiting for Speedway to join in.

  9. Marathon/Admirals attempting $3.19 in west MI. So far speedway hasn’t gone along with it but will see what tomorrow brings…

  10. GPM (Owner of Admirals and Marathons) is leading a move to 3.199 throughout the state. SEI (Speedway) will likely follow today or tomorrow, they haven’t really lead in price hikes since 7-11 bought them.

  11. 3.29 in Flint. Spike started showing before 9am.

  12. Another good rise in NYMEX RBOB and presumably in spot today with Whiting down for up to 3 weeks. The $3.39 to start the week in NE IL is a break even price now and some have receded 10-20c from that. Would expect $3.69+ Friday, Saturday – or Monday at the latest.

  13. I think I’m done playing this game…buying an EV

  14. Indiana and Indy area hiking to $3.399.

  15. $3.399 in Toledo—$0.20/gal. hike. ?

  16. Oddly, Speedway did not jump in NW Indiana. Family Express instead is leading the charge to the same $3.39 price. I guess Speedway let’s Family Express lead these 3 counties?

  17. SW Ohio at $3.399 this morning. Looks like BP may be leading the spike.

  18. Justin, since 7-11 bought Speedway they have let GPM take the lead on price hikes. GPM Owns Fas Mart, Shore Stop, Scotchman, BreadBox, Young’s, Li’L Cricket, Next Door, Village Pantry, Apple Market, Jiffi Stop, Admiral, Roadrunner Markets, E-Z Mart, Cigarette City & Town Star brands.

  19. $3.399 yesterday in sw Ohio. Led, as almost always, by Speedway.

  20. GetGo leading the price hike pack in central Indiana. $3.39 but others slow to follow.

  21. South Bend IN – $3.39 spike seems to be led by $peedway here yesterday. ND Speedway was $3.04.
    Family Express I see today has since followed. Costco $2.97.

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