Another price hike to $2.59? What is going on here? I’ve been laying low this month because I am having trouble figuring this out. The weekly report that the DOE publishes on gas prices (tonto.eia.doe.gov/oog/info/twip/twip_gasoline.html) does indicate that wholesale and retail prices in the Midwest are running at least 10 cents higher than for New York, and that explains the “Chicago Premium” we are paying right now. Also, frequent price hikes like we have seen lately occurs when wholesale prices are rising sharply. In the past, Speedway et. al. haven’t let retail prices drop to the 0-cent margin price when frequent wholesale prices occur.The question is why are Midwest prices so high right now? My Gas Buddy pdhaudio says the (Midwest?) refineries are slowing down production. Let’s keep an eye on this, and let’s worry, because NYMEX is up 9 cents today, as of this writing! There was another price hike on Thursday the 16th to $2.65. It was not enthusiastically embraced by all retailers, though.
- A remarkable fourth quarter for energy ... https://t.co/ZxZ8lQrvPM 04:15:30 PM December 29, 2018 from Twitter Web Client
- Gas prices putting me to sleep ... maybe we'll get some drama in 2019? https://t.co/5nGHoHXkBJ 11:52:18 AM December 17, 2018 from Twitter Web Client
- 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
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