There is no hard relationship between the daily price of oil, the
futures price of oil, and the daily price of gasoline.
Around Michigan and Ohio, the daily price of 87E10 has been around 25-35
cents in recent weeks, or around $0.85-1.00 with tax.
I heard of 15 cent gas (wholesale pre-tax) in the Dakotas.
Meanwhile, the May futures price of unleaded gasoline was around 70
cents before yesterday's crash, 58 cents now.
https://finance.yahoo.com/quote/RB=F?p=RB=F&.tsrc=fin-srch
Cash price at the pump averages around 1.50-1.60 in Michigan, but on 7
mile in Detroit I saw Gasbuddy prices as low as $0.849. That's ended
now, the cheapest non-club price in Michigan now is 0.949 at a BP in
Fremont.
(the Costco in Madison Heights is .849, and you can use a credit card,
the .849 in Detroit two weeks ago was cash only)
Here in Charlotte it's 1.499, which sounds highly profitable until you
realize how much volume has dropped. They make a lot on every sale but
they're selling a lot less.
10 miles down the road in Bellevue it's 1.209. The markup over wholesale
is what it was before the crash. And there are a few places around
Lansing that are under 1.25.
Meanwhile, in Florida, 1.359 is as good as it gets.
Oregon, 1.799.
Aside from a 1.599 price war in Farmersville, 1.899 is the cheapest in
California.
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