Thursday, June 11, 2009, 1:15PM: The extreme price jumps in the Chicago market continue to sort themselves out, and this report indicates that while NYMEX has been climbing (follow the UGA ETF for a quick read on that), Chicago wholesale prices have been falling. So, using a $2.07 NYMEX/Chicago wholesale price, I calculate a range of $2.61-$2.82, which means I can comfortably predict that prices will continue to fall into next week, at least to $2.69.
Oil/Gasoline Futures
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Why We Are Here
We enjoy predicting and trying to further our knowledge in the gasoline and oil industry. Our ultimate goal is to "win" the game of price hikes and to accurately predict hikes.
Current Contributors:
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.
Current Contributors:
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.
Crude oil pushing upward is making me nervous….
Ed, thank you, yes it should drop. That is why I Only purchased 10 gallons today.
Prices on the lakeshore (Grand Haven) are already dipping into the mid 2.70s. If today’s selloff continues…possibly even lower prices??
I’m a little skeptical of prices falling to $2.69 in Michigan over the weekend. They were hardest hit with supply issues, and are currently sitting in the mid $2.80s. Grand Rapids is worse, at $2.88. Other Speedway states like Indiana have a better chance, and should make it there. Indiana is down to $2.76, and Ohio is at $2.72.
Here’s hoping we all make it down to $2.69.
well, gas is around $2.49 where I live (virginia). I wonder how high they’ll get.
Akron OH, prices were 2.65 going into the weekend and 2.69 coming out. =(
Well, some stations in Kalamazoo MI area have fallen to $2.58 which is great. I don’t understand why the lowest in Grand Rapids MI has fallen only to $2.74. The risk for me is, to fill up today, or wait out the weekend and hope for lower prices on Monday.