Friday, October 25, 2013

Professor Farnsworth likes yelling "Whee" on the gas price rollercoaster

I concluded That took even less time by writing "Prices will continue to fall."  Within less than 24 hours, they did.  Yesterday evening, the corner station was selling regular at $3.25, the lowest price since January.  The corner station only has four cents to go to match its low for the year so far of $3.21, while the three stations down the street, if they are selling regular for $3.25, have six cents to go to match their lows for the year of $3.19.  Furthermore, to match their lows for last year, the corner station has a dime to go to reach $3.15, while the three stations down the street have 17 cents to hit $3.08.  All those prices happened the week before Christmas.  That's exactly two months off.

Allow me one more historical comparison about the local gas outlets.  Year-over-year, the neighborhood prices are lower than they were last year at this time, when they fell from $3.29 to $3.27.  True, it's only two cents so far, but the window for this comparison lasts until a week from tomorrow.  Things could get much better in that time.

Data from the Gasbuddy widget over at Econobrowser supports my optimism.  It shows that the national average price has passed $3.34 and hit $3.32.  Michigan's average has finally caught up with the national average at $3.32.  Finally, the Detroit average has fallen past the national average and is now only a fraction of a cent above $3.29.  The local stations can be as much as a dime below the metro area average, so $3.19 is not out of the question within the week.

No comments:

Post a Comment