(The following was posted yesterday at the grandrapidsgasprices.com site. I thought I knew how to update this web page from home, but I couldn’t.) Seems that Speedway is trying everything it can to improve its profit margin. Earlier this year, it appeared to me that it was trying to increase the profit per gallon from 20 cents to 25 cents, but the competition didn’t buy into it. Also, if you go back to the beginning of 2004, you see that the stations have been a lot quicker to “restore their prices”, with the profit per gallon getting down to about 10 cents before there is a price hike. That’s why we are getting one every week.Tuesday’s price hike to $1.89 … a lot of Speedway’s competitors didn’t match it, and the Speedway at Michigan and Fuller is back at $1.79. There was no corresponding price hike in Chicago, either.Now, this is what worries me … wholesale prices are up 6 cents since Friday. With my usual calculations, that would mean, if there is a price hike, the new price would be $1.94. I’m going to go out on a limb and predict that they raise prices again tomorrow (Thursday) to $1.94, and the competitors will follow. WRONG-O. Prices have got down to $1.74 in Grand Rapids as of Monday morning.
- 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.
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