Well, it happened in Indy: a price spike above $4.
Looks like the new popular price is $4.15. Get it under $4 today if you can.
The tongue is a small part of the body, but it makes great boasts. Consider what a great forest is set on fire by a small spark -- James 3:5
Any idea why?
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I know the knee-jerk reaction is usually "greed" or "because they can," but in almost every case the spikes are explainable with math. I just haven't seen the explanation for this one yet. I'll keep an eye out.
$3.89 down here. I remember last May/June the major fluctuations (30 cents per jump) were causing mental anguish up in Indy.
"Ride the Barrel and get pitted... So Pitted."
Even by sacrificing only a small amount of attention to the trends, I can usually stay ahead of the spikes.
If there is no actual reason for the spike, prices should fall back to a mathematically supported range pretty quickly. I've seen that on several occasions.
I saw that occur on several occasions over a 40 day period up in Indy last summer.
3.89 up here but we use a Kwik-Trip credit card and get a 2 or 3 cent/gallon rebate on the bill. It gets paid off each month.
But most of the spikes have a mathematical basis. If so, the decline is more gradual. The typical price chart in Indy is fast spikes and slow declines.
If today's spike is unsupported, the decline will be quite a bit steeper.
paid 3.83 this morning at Madison Ave. and County Line Rd. Truthy.......then came from the house to Camby Rd. and 67 and sall that it had gone to 4.15..It took 29 gallons to fill the Avalanche today.................
"Better To Be Judged By Twelve Than Carried By Six"
" Only Those Who Will Risk Going Too Far....Can Possibly Find Out How Far One Can Go "...T.S. Elliot....
The oil industry doesn't pay me anything. Alaska is the only state in the union where the subsurface and mineral rights belong to the state - me - and not to the federal govt.
The oil coming out of the ground at Prudhoe Bay is mine.
Come right on up, still time to get in line before the next big oil boom, starts in about 60 days. This drill rig in Seattle is headed north - soon.
I lived outside of Seattle for a couple years
Seeing that every day has to bug lots of the locals
"If Brian France sold tractors, people would quit farming." -attackforumfan
(i) All grants made or confirmed under this Act shall include mineral deposits. The grants of mineral lands to the State of Alaska under subsections (a) and (b) of this section are made upon the express condition that all sales, grants, deeds, or patents for any of the mineral lands so granted shall be subject to and contain reservation to the State of all of the minerals in the lands so sold, granted, deeded, or patented, together with the right to prospect for, mine, and remove the same. Mineral deposits in such lands shall be subject to lease by the State as the State legislature may direct: Provided, That any lands or minerals hereafter disposed of contrary to the provisions of this section shall be forfeited to the United States by appropriate proceedings instituted by the Attorney General for that purpose in the United States District Court for the District of Alaska.
What is the difference with ANWR then?
Why is that closed off if its on Alaskan soil?
So, anyway, how 'bout them gas prices?
You have some sick folks running the retailers association up there... sure what they are doing is legal, from what I understand they take it right up to the legal limit based on the wholesale price but it's aggressive marketing to say the least and I don't care for the angst it puts my Mom through.
I'm sure there are other markets where they do the same thing but I don't know where they are.
But with recent spikes in Indy, there have been only around 20 Speedway stations spiking at the same time. Even now, you can see that only about 30 of their Indy stations have spiked. Meanwhile, one station is still as low as $3.789.
Perhaps some of the stations are low because of competition on the same corner. But that would seem to contradict the idea that Speedway drives the price for the whole area.
Bottom line: it's pretty complicated, and I wish I had more specific insight into the process of setting prices. It's certainly not as simple as the "greed" accusers make it out to be.
Speedway has clearly changed their strategies but cities with no Speedways just don't have the spikes that Speedway cities do.
I don't say that critically, and I see the winky. But I've heard that same answer so many times before that I'm sure some people actually believe that's the reason why retailers are raising gas prices.
There are many stations who simply look out their window at the station across the street and price their gas similarly.
Does that meet the definition of collusion? Probably wouldn't hold up in court but it is enough to frustrate the gas-buying customer.