Yesterday’s amazing price hike prompted an e-mail from an old friend in the industry. He reports that the Exxon Mobile refinery at Joliet, IL shut a large gasoline maker over the weekend for unplanned repairs, which added yet more juice to the Chicago wholesale prices. (Based on my calculation, Chicago wholesale prices are now 16 cents ahead of New York — now that’s a Chicago Summer Premium!) Then, my friend reports, last night, wholesale prices fell five cents. Will retail prices follow? We can hope. At the very least, unless we get a Phoenix-style pipeline break, there will not be another price hike through Labor Day. I am cautiously optimistic that prices will fall significantly starting on Labor Day, but we’ll see what happens in the futures markets this week. There was no price hike, and gas prices fell below $1.80 at many areas around time, so the prediction was CORRECT.
- Garden variety hike for Flag Day ... https://t.co/YBouxJYFHo 07:23:34 PM June 12, 2018 from Twitter Web Client
- Nice prices drops lately ... it probably won't last: https://t.co/2vzKoSSKjL 06:28:11 PM June 03, 2018 from Twitter Web Client
- $3.19 tomorrow. You can smell it. 08:16:36 PM May 21, 2018 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