Sunday, December 3, 2017, 11:00AM: Back in early September, oil was trading at $48 a barrel, and price reset in Michigan to $2.79 on the 5th. On Friday, oil was trading at $58 a barrel, and gas prices … as low as $2.19 in Wyoming. But, I also saw a $2.69 yesterday in Lansing, and everything in between in the southern part of the state the past two weeks. So, what’s going on? For one, retail gas prices tend to drop in the fall, typically bottoming out in December, as we switch from summer to winter gas. Also, we had a spike in wholesale prices in the first week of November, related to some temporary shortages that have been worked out of the system, and it looks like some of the stations are having a “clearance sale” now to right their books. One other consideration is that ethanol, which makes up 10% of what you put in your tank, has been dropping in price the past few months. Looking ahead short term, I think we reset across the board this coming week, in the neighborhood of $2.59. Longer term, I suspect we’ll be starting our winter price climb this week, as gas prices catch up to oil prices. -EA
- Enjoy $2 gas in north west Kent County (MI). More here: https://t.co/I4wlvL8McV 06:59:17 PM November 25, 2018 from Twitter Web Client
- Maybe we reset to $2.49 before Thanksgiving, but prices have been dropping considerably. More here ... https://t.co/u0hbFZZWx1 05:11:23 PM November 18, 2018 from Twitter Web Client
- Look for under $2.40 this week before you fill up ... https://t.co/g54cItT3cB 06:12:30 PM November 11, 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.
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