Tuesday, July 2, 2013

Gas prices lower here than last July 1st

I posted that gas prices fell 90 cents in three weeks last time.  It turns out that I called the bottom too soon.  That evening, the corner station dropped their price for regular from $3.39 to $3.37 gallon.  The other stations down the block followed suit and that's where the price has remained since.

I also noted that the price last year at this time was $3.39, so gas is actually cheaper year-over-year in my neighborhood.  Unfortunately, it isn't that way elsewhere in the state, as WOOD-TV reports in Food, gas costs higher this July Fourth.

The July Fourth holiday is approaching and what you might not have planned for your celebration is how much more it is going to cost you whether you are traveling or just celebrating at home.
I'm not going anywhere, so I plan on enjoying my staycation.

It's been a while since I've connected the price of gas to that of oil, so I'll first note that Brent closed at $103.00 today.  That means the expected price for gas is $3.41 according to the calculator at Econobrowser.  That also means the $3.37 being charged locally is actually a good price, and I don't expect it to go much lower.  I'd break out Professor Farnsworth, except that calling a bottom isn't really good news.

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