Thursday, February 9, 2012
No hike today, but quite possible tomorrow
We avoided a hike today, wtih prices falling an additional 10-15 cents today (conveniently after I bought gas Wednesday night), but prices are currently below the price of $3.40, which is the price retail has to hit before we see a price hike. It's rare to see a price hike on the weekends, so be mindful of one tomorrow... $3.59.
Possible hike... Status Quo remains
We'll know in about an hour whether or not Speedway is mounting a hike today. Depending on the market, they may hold off until tomorrow or until next week entirely. If there is a hike, it would likely be $3.59-$3.65. Some Speedway locations in south Lansing have dropped to $3.28, with the Speedway on Cedar near Holmes at $3.25. Reportedly, the BP/Circle K near that Speedway is at $3.19.
That all being said, $3.27/$3.28 is what the prices fell to before the last hike we had, on Groundhog's Day. This has been the status quo ever since the free-fall* we saw from $3.89 down to (in some stations in the zip code 48912) $2.98. We'll have a hike (usually followed by another), and then a long enough period of dropping prices to recover. Even the hike to $3.69 early in January was followed by another free-fall, then a hike to $3.45, then another to $3.59... and now we are right back where we started at the very beginning of January.
Analysts are calling for $4+ per gallon this year by Memorial Day. It could easily happen by the end of next month. Let's hope not though.
*A free-fall is defined as a period of at least two weeks without price increases
That all being said, $3.27/$3.28 is what the prices fell to before the last hike we had, on Groundhog's Day. This has been the status quo ever since the free-fall* we saw from $3.89 down to (in some stations in the zip code 48912) $2.98. We'll have a hike (usually followed by another), and then a long enough period of dropping prices to recover. Even the hike to $3.69 early in January was followed by another free-fall, then a hike to $3.45, then another to $3.59... and now we are right back where we started at the very beginning of January.
Analysts are calling for $4+ per gallon this year by Memorial Day. It could easily happen by the end of next month. Let's hope not though.
*A free-fall is defined as a period of at least two weeks without price increases
Sunday, January 15, 2012
Falling Wholesale Prices
Last week, the Lansing area saw a price hike to $3.69. Right as this occurred, the wholesale price for gas plummeted 13¢ per gallon, and we in turn saw prices fall to $3.57 or so (Speedway by Frandor is at $3.54). According to the folks at thegasgame.com, wholesale is continuing to fall. Unless markets rally upon opening on Tuesday (tomorrow is Martin Luther King Jr Day), hold off on getting gas as long as possible. We're not looking for a hike this week at this time.
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