I have had some personal and professional responsibilities this past week, so I haven’t been able to follow things closely, but “oil at an all-time high” has been all over the media, and gas prices on NYMEX have jumped, too. That makes Friday’s price re-set (by everyone!) to “just” $2.99 a little odd. Using the usual 20-cent margin, the HU contract on NYMEX yields $3.06 a gallon, while the HU/RB averaging formula gives us $3.11. (Note that the RB = reformulated blendstock is not going up as fast as the HU = NY harbor unleaded.) Prices in Fort Wayne, Indiana are usually a dime less than in Grand Rapids, and they are at $2.99, too. So, we seem to be lucky to have prices just under $3, which means another price hike to $3.09 next Monday or Tuesday is just about certain. Prices rose on Monday to $3.09 on the east side of the state, $3.15 here in the Grand Rapids area. Although I was a bit off on the price, the prediction was essentially CORRECT.
- You snooze, you lose ... https://t.co/EpF25AgY1v about 18 hours ago 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
- Happy Thanksgiving! Not sure if we hike tomorrow or not ... https://t.co/djRBIMUSRB 07:10:52 PM November 21, 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.
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