Gas Prices

October 4th, 2012 at 4:41 am by under Bill's Blog, News, Weather, Your Money

   Here’s the latest from Ed A:   Comment on the September 22 prediction:  As predicted, prices rose on September 24, to $3.99.  Prices have been falling gradually since then.

Wednesday, October 3, 2012, 9:00PM:  Wholesale prices have been falling in the Midwest the past few days, finally catching up to falling prices elsewhere, including oil prices.  As of tonight, Grand Rapids retailers are paying $3.60 a gallon, I estimate, which gives us room to $3.50 before we get a hike.  Since  the cheapest in town is $3.67, expect prices to continue falling, at least until Monday. — Ed A.

34 Responses to “Gas Prices”

  1. TomKap (Michigan St. & Fuller) Grand Rapids says:

    Always appreciate these posts – and the last two have been spot on.
    I almost filled up earlier today. Now I will wait a day or two.

  2. INDY says:

    Hey Kyle we have had rain all night my friend !!!!! INDYY….

  3. Gary Bink says:

    Heading up north for the weekend so we will see what gas prices are up north. Planning to go as far north as Taquamenon Falls and then back down the east side of the state saturday and sunday so looking for gas prices to stay down for the weekend.

  4. Travis (Oxford, MI) says:

    The price of oil has been crashing this week due to a possible regime change in Iran. We better get some relief at the pump!

  5. DanielG says:

    Ahhh the pesky regime change??? Probably NOT. Even if it does the Supreme Leader will still be the Supreme Leader. Ahmadinajad is not the supreme leader by the way, he’s just el Presidente’ which doesn’t mean a lot there.
    Would be nice though to see something happen for the good in that area of the world. Its been a source of strife for CENTURIES though and I wouldn’t count on it. Its that old ‘My God is Better Then Your God’ ya know.

    1. Travis (Oxford, MI) says:

      Iran’s currency has fallen 40% in ONE WEEK. If the protests don’t bring change, nothing will. The country is so bankrupt and can’t export oil due to sanctions, so it’s only a matter of time until something gives. Let’s hope.

      Could you imagine everyone in the country losing 40% in one week?! All Iranians should be irate.

  6. Sandi says:

    I’m thinking the election has something to do with it too. Sure would be nice to see $1.84/gal like 4 years ago. Hey a girl can dream (-;

    1. Cort S. says:

      Gas prices have a little less to do with USA politics and a little more to do with world economics (supply and demand) than you might expect.

      Here is a chart of USA gas prices, Canada gas prices, and crude oil prices over the past 8 years:

      http://www.gasbuddy.com/gb_retail_price_chart.aspx?city1=USA%20Average&city2=Canada%20Average&city3=&crude=y&tme=96&units=us

      Notice how Canada’s price fluctuations are a close proxy to the USA’s price fluctuations, and gas both countries’ prices are moderately related to world crude oil prices. While crude oil prices are a starting point, gas price fluctuations do not match crude oil price fluctuations exactly due to downstream variables as oil gets turned into gas and then resold: variables such as refineries, pipelines, speculation, etc.

      I remember filling up in Alma for 1.30-something on my way back home for Thanksgiving 2008. While that was nice… just 2 and a half months before, gas prices were over 4.00 because the economic bubble had not yet collapsed and Hurricane Ike was tearing up Texas. I’m not going to blame the previous Administration for those 4.00 prices any more than I would blame the current Administration for today’s prices. It’s the economy, smarty! (Smarty is a much nicer word than stupid ;) )

      1. fixxxer says:

        So your an expert on politics to huh?… go figure! ;)

        1. Cort S. says:

          HELP HELP! I’M BEING REPRESSED!

          http://www.youtube.com/watch?v=GS_1bzaj2fw

      2. Riker says:

        Yep. I’ve seen the same charts. And we, in the US pay much less than other rich nations. It’ll drop significantly more when we start using clean and renewable energy like solar, wind and hydrogen.

        1. Bill Steffen says:

          West Michigan is one of the least friendly states for solar. It’s cloudy here much of the winter during peak heating season. We average 20% of possible sunshine in December when the day is only 9 hours long. Wind energy is more expensive than coal or natural gas. Wind energy gets massive government (tax) subsidies. If it were cost-effective, people and small companies would be putting up wind turbines on their own. On the hottest day of this summer, July 6 – it was +100 in Holland and the average wind was 3 mph – the wind turbines weren’t moving.

      3. Mike M. says:

        The run up in prices back in 2008 was an act of economic terrorism according to a DOD study…

        http://www.washingtontimes.com/news/2011/feb/28/financial-terrorism-suspected-in-08-economic-crash/?page=all

        Scary stuff.

  7. Jack says:

    Off Subject……Miguel Cabrera…..MVP.!!!!!!!!!!!!!!!

    1. Hugh says:

      also off subject — triple winner :)

      1. Jack says:

        How Sweet it Is…… :-)

        1. Hugh says:

          since 1967 WOW!

  8. Riker says:

    Seems like every time gas prices fall, something happens: fire at refinery, scare mongering about war, another fire. Seems like sabotage and conspiracy by the petro companies. I knowthis happens. I saw people do this all the time in manufacturing so they could continue getting overtime pay on Saturday.

  9. Rebecca says:

    Gas is still 3.80 in the village of LakeOdessa.

  10. Vincent(N.E.Kent CO) says:

    Wrong!! Just went up to $3.95 again.

  11. Mindy says:

    PRICE HIKE to $3.95. $360s diddn’t last long! LET THE EXCUSES BEGIN !!!!!!

  12. Mike M. says:

    We hate you Speedway!!

  13. Cort S. says:

    Darn… I got this e-mail at 10:30 AM from GasBuddy. I didn’t notice until too late.

    Quote:

    Warning! Wholesale gasoline prices yesterday rose 14c/gal, leading to a price spike. We expect gas prices in Michigan to rise to $3.89-$3.99 today. Odds are roughly 85%.

    Thanks,

    The Gasbuddy Team

  14. Brad (Lawrence) says:

    The question is WHY did wholesale gas prices rise 14c/gal??? I’m not sure where anybody was seeing 3.60′s a gallon, but the lowest it got here was 3.78 and that’s why I didn’t fill up any of my 3 trucks. I was getting the impression from this blog that it was going to eventually get to around 3.60′s then I would top off. Hey…why wouldn’t I want to spend my extra 25 bucks this week on gas because they decided to raise pump prices on payday. Like the churchlady used to say…Hmmmm, coincidence? I think not!

    1. Jack says:

      Who made Them Do It ? Satan Possibly..? …..lol

      1. Brad (Lawrence) says:

        lol…funny stuff. SNL throwback. :P

  15. Jack says:

    What Makes Me MAD, Is How Slowly Gas Prices Go Down….Yet Rise 30cents In a Heartbeat… I just Don’t Get It…!!!!!! :-(

  16. Dave says:

    The price just jumped 20cents a gallon. It was 3.75 this mourning , and is 3.97 now. This is just greed and the willingness to stick it to normal people for profet. i’M READY to say screw the oil and gas companys, let the government take them over;at least it will be a constant screw, not just a weekend screw. Can someone at tv8 tell us why these jumps.

  17. big Daddy BC says:

    You keep pushing the Mormon energy plan and the rest of us will look at the lies that magic undy wearing animal abuser tells.
    http://www.cnn.com/2012/10/06/opinion/jones-romney-green-jobs/index.html

    He so dumb he can’t even keep his own lies straight! LOl

  18. Leslyn K says:

    What happened to prices going DOWN?!?!!

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