Posted in: Gas Prices,
by Patrick DeHaan on Jan 26, 2012 11:04 AM
Just a brief note to all of our followers, gasoline prices are rising in the Great Lakes today- something we monitor continuously. The FTC refers to this behavior as "price cycling" and that's what we're seeing today.
Many stations will be jumping to $3.45 in Michigan, $3.45 in Ohio, $3.45 in Indiana, and $3.45 in Kentucky. Watch out for price increases in Missouri, Minnesota, West Virginia, Wisconsin, and Illinois as well.
The increase comes as retail prices have fallen very quickly- in Michigan, Indiana, and Ohio, gasoline prices fell an average of 14-cents per gallon in the last week even while the national average rose. This was due to a supply condition in the Great Lakes, likely combined with news that Obama temporarily killed the Keystone XL pipeline, which could have diverted cheap Canadian oil away from the Midwest.