Saturday, June 1, 2013, 8:30AM: I just got back from my Saturday morning walk, and I got to see the local Speedway implement a rare Saturday hike, to $4.15. An industry insider tells me that Friday afternoon in Chicago, there was an inexplicable spike in wholesale prices, one that was not matched in other parts of the country. There were a number of odd end-of-month actions in markets Friday afternoon, including the sudden drop in stock prices from 3:25 to 4:00 PM. Sometimes these occur due to traders and financiers balancing their books at the end of the month, which probably doesn’t bother them much, but this morning we see concrete consequences of trading-based, as opposed to supply-and-demand-based, volatility. Journalists and political leaders, if you want to investigate a good example of what is going on with gas prices, here it is! — Ed Aboufadel
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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