Posted in: Forecasts,
by Patrick DeHaan on Dec 14, 2012 01:00 PM
Gasoline prices always tend to rise faster than they fall, or at least that's what we've all believed and is certainly the norm. This time, one station in Grand Rapids, Michigan dropped its price 24c/gal in one swoop, leading other stations to follow.
Generally a station will drop its price slowly to make a bit more money instead of dropping prices all at once, but in this rare case, a station dropped to $3.11/gal, and even the station across the street didn't want to match, and 12 hours later, two stations across from each other were charging a very different amount, $3.35/gal and the other stood at $3.11/gal.
Cases like this highlight the purpose of GasBuddy- finding cheap gas, and taking advantage of the drop in price. The difference between the two stations was so significant that it prompted local NBC affiliate WOOD-TV 8 to send a news crew there for a story, highlighting the change in price.
Previously, we had indicated in various forms that Great Lakes wholesale gasoline prices hit their lowest in well over a year. While they've rebounded slightly, we still can expect averages to fall over the weekend in Illinois, Indiana, Wisconsin, Missouri, Michigan, Ohio, and Kentucky.
The Great Lakes region is still seeing the lowest wholesale prices of any region in the nation, but there is late word from Fox Business that a refinery glitch was just reported in the region. We'll keep you updated via our
GasBuddy Facebook page.