Archive for the Tag 'competition'

We’re rounding the corner… Chinese Economic Stimulus to cause higher prices

I’m getting quite close to announcing a price hike in Grand Rapids and other Michigan areas as wholesale prices rise this morning, due to news of a Chinese Stimulus program to help their economy. This is not good news for consumers, as we’ve benefited from lower Chinese demand in the form of less competition for [...]

$4.09 comes a bit late, whats next?

First off, any rumor of $4.50+ gas in the Midwest is FALSE.
Just home from work and posting here to help aid in killing false rumors.
First of all, don’t expect shortages of gas. There is no need to panic buy, prices will come down over time, but the worse thing folks can do is think there [...]

Ed’s Calculations for Expected Retail Price

Expected retail price = 1.06*(WP + RM + FF + TX + MS) + ST
WP = estimated wholesale price
(average of current and next month futures prices)
RM = estimated retail markup (as much as 20 cents per gallon)
FF = Fudge factor, which takes into account variations between New York and Chicago wholesale prices, and competition situations [...]

Yesterday was strange

On Monday morning, a price hike this week made sense to me, based on the NYMEX prices, and I posted a price hike prediction.  By Wednesday morning, though, NYMEX prices had dropped, making a price hike less likely.  Speedway decided to hike to $2.29 on Wednesday, but the wholesale price didn’t back them up, so [...]

Prediction: prices keep falling all week

Comment on last week’s prediction: Prices are falling, but slowly, not significantly, so 1/2 CORRECT, 1/2 WRONG.
Monday, August 14, 2006, 12:30 PM: Wholesale prices have fallen hard, including an 8-cent drop today. According to NYMEX (and CNBC), we have a wholesale price of $1.98, which corresponds to a retail price in the $2.50 to $2.75 [...]

Wholesale prices to rise

The good news is that Citgo is open again on Lake Michigan Drive, and competition has returned to Standale, with prices as low as $2.92 this morning. The bad news is that while prices have fallen below $3 a gallon pretty much everywhere in the area, wholesale prices jumped six cents yesterday. That [...]

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