I am going to start using the “This Week in Gasoline” site to estimate what needs to be added or subtracted from NYMEX prices to get the wholesale price for the Midwest. Over the past few weeks, that site has reported a six-cent difference in prices between there and here, and that has worked out perfectly for a “Chicago Winter Discount.” Last Monday, that difference was reported as three cents. So, putting it all into the formula (with SG=-3), we get a 20-cent margin price of $1.57. Given where prices are right now (low $1.40’s), I’d expect a price hike, perhaps as early as Monday, to around $1.57. On Tuesday, the price hiked … to $1.57! Very CORRECT!
- Enjoy $2 gas in north west Kent County (MI). More here: https://t.co/I4wlvL8McV 06:59:17 PM November 25, 2018 from Twitter Web Client
- Maybe we reset to $2.49 before Thanksgiving, but prices have been dropping considerably. More here ... https://t.co/u0hbFZZWx1 05:11:23 PM November 18, 2018 from Twitter Web Client
- Look for under $2.40 this week before you fill up ... https://t.co/g54cItT3cB 06:12:30 PM November 11, 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.
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