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0 comments Tuesday 09 Sep 2008 | Posted By Patrick | Predictions

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 [...]

0 comments Tuesday 09 Sep 2008 | Posted By Patrick | Predictions

This page is filled with great information on the math behind gasoline prices, the stats of hikes, days they are most likely to occur, and the data behind why prices rise and fall. This information is about as raw as it gets, meaning it is hard to understand for some who haven’t looked at it [...]

3 comments Tuesday 09 Sep 2008 | Posted By Ed Aboufadel | Commentary

Comment on the August 25 prediction:  Prices did drop into the $3.70’s from $3.89, but not significantly due to the hurricanes.  To be fair, I’ll label that prediction WRONG.
September 9, 2008, 7:15 AM:  With the fall semester up-and-running at GVSU, I am planning on posting each Tuesday morning this semester.  Using NYMEX alone, the 0-cent [...]

2 comments Sunday 07 Sep 2008 | Posted By Patrick | Predictions

Better plan on filling up tonight or first thing Monday morning, folks.
The oil and gasoline market opened overseas just moments ago and has already jumped enough to force a price hike. At this writing, gasoline is up 8-cents per gallon. Local gasoline retailers aren’t making more than 10-cents per gallon today, and with a large [...]

1 comment Sunday 10 Aug 2008 | Posted By Patrick | Predictions

I think you’ll agree with me on this one- Diesel consumers have LONG awaited the price drops that gasoline has seen. Since gasoline has dropped mid-July, diesel HAS followed its drop on the wholesale market, BUT for some reason, those price drops really never made it to large chain retailers. Even as I write this, [...]

1 comment Thursday 17 Jul 2008 | Posted By Patrick | Predictions

Its been such a long time it seems that I’m proud to announce we should be seeing $3.XX gasoline (as low as $3.89) in Grand Rapids in coming days as wholesale gasoline prices continue what seems to be a correction.
Gasoline lost another 10.34-cents today, marking a near 40-cent slide since the week began.
Unfortunately for some [...]