Comment on the March 10 prediction: “No further hike is on the horizon this week”. Well, that was WRONG!
Sunday, March 17, 2024, 5PM: Despite most stations being close to the $3.69 hike we discussed a week ago, our Marathon/Admiral friends decided to push it up again to $3.75 on Thursday. Slowly, other stations followed suit, but on Friday afternoon, you could still buy gas for $3.31 a gallon on Alpine Avenue in GR. (In fact, the Marathon there was at $3.39, begging the competition to push it up, but then down the street, Speedway had capitulated and gone to $3.75.) As reported by our GasBuddy, that $3.31 was pretty much the 0-cent margin price.
Meanwhile, I drove from west Michigan to Lansing yesterday, and $3.39’s along I-96.
Meanwhile, when gas pricing is favorable to the stations, the stock price in Valero rallies, and it has been on a tear: up more than 15% this month.
What’s going on? Oil has ticked up over $80 a barrel. We are starting to move towards the summer gas blends, which always pushes prices up. Big M is getting more aggressive with their price at the pump, at least in west Michigan. But, I see we still have a bunch of $3.39’s around the area.
So, no prediction today. And thank you K&G for keeping your prices lower. -EA
$3.499 in the Toledo area. 🙁
Whiting is coming back online! Speedway in Grayling dropped from 3.79 to 3.45 yesterday without a lower competitor. GPM/Admiral’s Marathon was still at 3.71 this morning.
up to $3.99/4.09 yesterday at Chicagoland Speedways.
Family Express attempting $3.79 in NW Indiana