Yesterday, I signed up for Speedway’s “Speedy Rewards”. Am I moving to the dark side, or am I just a sucker for those frozen Pepsi’s? Maybe I’m just feeling good that they kept the price (barely) under $3, despite a strong run-up in wholesale prices last week. That run-up has turned around, as we have been expriencing extremely volatile commodity markets the past few days. For example, gas futures fell 12 cents a gallon yesterday. The volatility is proof that you have prices being knocked around by speculators. Long-term, this all averages out, as supply meets demand, but short-term, it can play havoc on gas pricing, and price predicting. Using last night’s closing prices, and averaging the HU and RB contracts, we get a 0-cent margin price of $2.70 and a 20-cent margin price of $2.91, and the cheapest gas at the moment is $2.83 in Allendale. So, I wouldn’t pay more than $2.89 a gallon today, even though the price is still $2.99 in a lot of places. It is not at all obvious how the rest of the week is going to play out. The futures markets went down with the stock market, so we got no price hike.
- $3 gas in 2018 and other fearless predictions: https://t.co/c5SaxSu8ms 06:05:06 PM January 01, 2018 from Twitter Web Client
- You snooze, you lose ... https://t.co/EpF25AgY1v 06:41:20 PM December 17, 2017 from Twitter Web Client
- It's the most wonderful time of the year ... to buy gas! https://t.co/rBFbqhfCgN 11:05:58 AM December 03, 2017 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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