Time for consumers to get a break on gas prices

Tuesday, September 13, 2011, 6:50PM:  Now that the summer driving season is over, wholesale prices have started to drop — 36 cents since the end of August, much of it the past few days.  I estimate the 0-cent margin price tonight at around $3.33 (that’s the floor for retail prices), and the cheapest gas in town is $3.62 right now.  So, we can expect prices to fall the rest of the week and through the weekend.  Great!   That’s a prediction. — Ed Aboufadel

Updated: September 13, 2011 — 5:47 pm

5 Comments

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  1. independent retailer

    You are about 14 cents off on your 0 cent margin.

  2. AGREE!!!

    Lets get it back down to below $2.00 a gallon…

    It CAN Happen!!!

    There is NO Shortage, Just GREED, ONLY GREED!

    That what it’s all about!

  3. Prices will fall by a handful of cents then next week Big Oil will notice we’re at $90/bbl already and back to $3.79-3.89…

  4. If gas at the pump falls below 3 a gallon that means the economy is in the shitter again. While I would like it to be cheaper again…and I have a good job with tons of seniority…we don’t wanna see the economy go in the dumper again. Fuel price is SORTA a look at the economy as a whole. If its good then the price is up…and vice a versa.
    And then again I think the economy is doing better then the newspapers and talking heads say it is. Railroad is busy where I work at here in GRR. Wages are up for us, we have money to spend and are spending it.

  5. Big down day for crude oil and gasoline:

    * New York November crude oil futures down $5.41 to settle at $80.51.

    * New York October gasoline futures down 10.65¢ to settle at $2.56.

    * Chicago spot market gasoline down 17.39¢ (6.426%) to $2.5325.

    This puts the current spike line for Michigan around $3.2848.

    Current averages:

    $3.614 Ann Arbor
    $3.584 Grand Rapids
    $3.579 Michigan
    $3.574 Detroit
    $3.565 USA
    $3.498 Kalamazoo
    $3.492 Flint
    $3.395 Lansing

    Lansing and Mason occupy the top 15 lowest prices in the state, ranging from $3.109 to $3.209. The BP next to Detroit Metro Airport is $3.999.

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