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