As I have posted before, the most difficult part of studying gas prices is figuring out the wholesale prices. I use the NYMEX “HU” unleaded gasoline contract as a proxy, because I don’t have access to the wholesale prices in west Michigan. Lately, I’ve also been observing the “RB” gasoline w/ethanol contract, which has been a better predictor the past few weeks, except for the past few days. This week’s rise to $2.95-$2.99 makes sense if you go back to the “HU” contract and set the “Fudge Factor” to zero. Another theory is that Speedway and others are tense about posting a price above $3 a gallon, and are selling gas near cost to keep the Governor happy. This morning, NYMEX gas prices are down, but that could change, so it is difficult to see what happens over the next few days. The crystal ball is foggy. Prices fell to as low as $2.80 around town over the weekend, then re-set to $2.95 on Tuesday at most places.
- RT @TomKloza: Trust me. This week's US crude oil inventory build (+1.2-million bbl) is a head fake. High runs and high exports will lead to… 09:12:23 AM July 07, 2018 from Twitter Web Client
- Expecting $3.09 again ... https://t.co/MkAhvZ197I 09:12:02 AM July 07, 2018 from Twitter Web Client
- RT @GasBuddyGuy: July 4 travel: Motorists will be shelling out $1B more the first four days of July this year than they did last year as #g… 09:50:36 AM July 01, 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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