The March to March Continues

Comment on the January 28 prediction: Perfectly CORRECT, with a hike to $3.09 on January 29.

Thursday, February 15, 2024, 11AM: Sorry for the lack of postings so far this month. I traveled to the Tampa area of Florida for a week, and I’ve been very busy at work. In Florida, prices were similar to Michigan, and they are all-in there with the “10 cents extra for credit card purchases” premium that we see closer to Detroit.

Let’s reset where we are at with gas prices. We are clearly in the space above $3 a gallon, after the $3.09 hike on January 29 and a $3.29 hike a week ago. Those hikes appear to be connected to some regional issues with a refinery, because overall, the price of oil has been pretty steady.

Or, it has to do with the usual “March to March”: gas prices bottoming out in December each year, and then starting to work higher throughout the winter. Actually, it’s more like “The March to June”, but that doesn’t make as good a headline.

Looking at wholesale prices in the region, I think we are safe the next several days from a price reset. I think we’ll see some $2.99’s this weekend in Kent County, but that probably sets up a price reset next week, back to $3.29. -EA

Updated: February 15, 2024 — 11:18 am

1 Comment

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  1. I would say that Whiting being offline since the 7th is the likely reason. I wouldn’t be surprised to see 3.399 this week if it stays down.

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