Monday, October 7, 2013

Gas prices may be bottoming out

WCPO is reporting the past month's news in Gas prices keep dropping.

Good Morning Tri-State reporter Mario Ramirez explains.

The shutdown is even part of the gas price story, as it's reducing demand.  I'm not surprised.

Also, as Ramierez mentioned, enjoy the low prices while they last.  In fact, there are signs that the decline in price may be ending soon, if not over already.  The Gasbuddy widget over at Econobrowser shows that the national average price has stalled at $3.38 for the couple of days, while both the Detroit and Michigan averages are going up again.  The Detroit average has gone up slightly from $3.32 to $3.35, while Michigan's has shot up from $3.31 to $3.39.  The corner station is reflecting these trends, with its price going up like a rocket from $3.27 to $3.49, while the three stations down the block are holding steady at $3.27.  This situation usually ends with the corner station dropping a lot while the other stations rise a little.  By Saturday, I expect all of them to be within a few cents of $3.35.

In the meantime, my car's tank is full, but my wife's isn't.  Maybe I should top her tank off while gas is still relatively cheap.

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