More Fun to Watch the Competition in Fort Wayne

Sunday, May 5, 2024, 5 PM: The price for a barrel of oil broke below $80 this week, taking pressure off of wholesale gas prices, and slowly but surely, off of retail prices. For instance, in Lowell today, I saw gas for $3.61 a gallon vs. $3.85 on April 24. I expect price moderation to continue this week, and in retail corridors that include a K&G in Kent County, the price is $3.39 a gallon right now.

The beginning of May of even years is when I reset the spreadsheet I use to predict gas prices. I will continue to daily monitor prices on Lake Michigan Drive (on the way to work!) and at a Speedway in Fort Wayne near family members. Following Allendale prices was interesting for a while when the new increased competition was occurring on I-96 north of GVSU, but then they stopped competing. Instead, I am going to keep an eye on the Costco on the east side of Kent County, which I believe is a good proxy for the 0-cent margin price.

As you can see in this screenshot from my 2022-24 spreadsheet, it is more fun to play the Gas Game in Fort Wayne, where price hikes are fewer and they dissipate quicker. The screenshot is typical of what I observe. Arguably, Fort Wayne has a lot of gas stations on the southwest side of Allen County, creating localized gas price skirmishes. We could use more of those here in Michigan. -EA

Updated: May 5, 2024 — 4:51 pm

10 Comments

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  1. Pretty cool seeing this, thanks for sharing!

  2. GetGo spiking to $3.699 in Indy area. Will watch to see if others follow.

  3. GetGo is becoming the new spike master in central Indiana. Lafayette and New Castle still have $2.99 and $3.05 on the low price end. Murphy oil usually lags behind on price resets in many areas.

  4. Yeah that’s interesting, seeing Speedway stations hiking now too.

  5. Family Express now attempting $3.89 in NW counties.

  6. Speedway leading the way for a hike to $3.599 in SW Ohio, just as we were seeing some prices in town down in the $3.30s.

  7. The hike back to $4.19/4.29 in IL today confirms that Speedway is aiming for margins up to 20c higher than a month or two ago, just like they did last warm season. And also, the bottom of the price cycle has been raised as well.

  8. GetGo spiking to $3.699 in Indy area, now Speedway and Thorntons following suit.

  9. $3.89 Family Express NW Indiana

  10. GetGo again. Gitty up and go elsewhere.

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