Futures did jump again on Friday, so it is time to re-evaluate. On June 1, retailers had to be selling the reformulated gas. Refiners had to start making it on May 1. In retrospect, this was adding 4 cents a gallon during May, and now 10 cents a gallon. This is the “Chicago Summer Premimum”. So, in my calculations, I am back to using the 20-cent maximum margin for retailers and, through the end of September, a 10-cent add-on for the summer. That would make the 20-cent margin price today $1.68, and the 0-cent margin price $1.47. Prices are in the $1.55-$1.60 range today, so there isn’t an obvious prediction, but I’ll make one regardless: price hike on Wednesday or Thursday to $1.69. Thursday morning, prices jumped to $1.68, so the prediction was CORRECT. Although I was at work, I saw the price hike at the Speedway web site (see link above).
- $3 gas in 2018 and other fearless predictions: https://t.co/c5SaxSu8ms 06:05:06 PM January 01, 2018 from Twitter Web Client
- You snooze, you lose ... https://t.co/EpF25AgY1v 06:41:20 PM December 17, 2017 from Twitter Web Client
- It's the most wonderful time of the year ... to buy gas! https://t.co/rBFbqhfCgN 11:05:58 AM December 03, 2017 from Twitter Web Client
Why We Are Here
Ed A.: ab...@gvsu.edu
Craig P.: cr...@paull.net
Tim S.: ts...@gmail.com
Bill E.: pa...@yahoo.com
The name of the site is based off an essay Ed wrote for the Grand Rapids Press titled "The Gas Game". The current website was established later by Patrick DeHaan after he and Ed predicted gas price hikes on GasBuddy's website GrandRapidsGasPrices.com, as well as Ed’s personal web page.
Note: To be precise, add 9/10 of a cent to all prices described on this web page.
AXXIS capacity Chicago Premium competition contracts demand diesel DOE dollar expansion fire fudge factor futures gasoline gas prices gouging Hurricane indiana inventories maintenance margin market no prediction NYMEX Ohio oil PADD prediction price hike prices fall production profit refineries refinery refinery utilization report retailer shutdown Speedway stockpiles storage tv utilization wholesale prices WOOD