The Place Where Ludington Talks
GAS PRICES
I was in Hastings Michigan today and found the gas pricing to be pleasantly low. I paid $2.94 per gallon. When I pulled out of the station and went around the corner, the station there was at $2.93 per gallon. Anyone else see a major drop in prices on their travels?
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Replies to This Discussion
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Permalink Reply by Dave on
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There was at least one gas station in Grand Rapids that had gas for $3..... I got gas on the south side of Grand Rapids for $3.06
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Permalink Reply by XLFD on
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They had some pictures out of Greenville gas stations earlier this week in MLive where the gas was at $2.96.
Prices are still above $3.20 here as of earlier tonight.
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Permalink Reply by Willy on
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Did you ever wonder about that 9/10 of a cent that is always tacked on to the end of the price of a gallon of gas? There are several explanations but none of them make much sense to me so I concentrated on just what that 9/10 means in profits for oil companies. You will be surprised at the results of adding on such a small amount to the price of a gallon of gas.
What is 9/10 of a cent worth?
So the gas companies take an extra 9/10 of a cent for every gallon of gas we buy--what is that actually worth?
According to the U.S. Energy Information Administration (EIA), "prime suppliers" of "motor gasoline" reported sales of 372,833.5 thousand barrels sold in February 2007. Each barrel represents 42 gallons, and to determine the value of 9/10 of a cent for each gallon, we did the following calculation:
372,834 x 1000 x 42 x .009 = $140,931,063
That means that in February 2007, gas companies collected an extra $141 million USD because of their unique pricing practices. Assuming February is a rough average for the year, that's $1.7 billion USD in additional revenue!
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When I left Ludington this morning the price of gas was around $3.06 per gallon. When I went thru Coopersville a gallon was listed at $2.85. When I passed thru Hastings the price was $2.60 per gallon. Needless to say I filled up in Hastings.
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Permalink Reply by AQUAMAN on
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Good find Willy. I also noticed Sunday, yesterday, the price as close as Shelby was $2.90/gal, just 25 miles away, and even less, $2.86 in Muskegon. Last weekend, 10/5, the same type $.15/gal. difference I noticed was in Manistee, just 25 miles away north. Looks like we are getting squeezed around Ludington for much higher pricing. The reason I've been told in the past is always that we are so far up north from GR & Musk.. It doesn't pass muster now since we are in the middle, and have these high prices again yet. I'll bet in the big cities they are in the $2.70's bracket now.
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Saw it reported today that Greenville, MI had gas for $2.55.... I got gas in Muskegon for $2.86
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I was in Hastings again today visiting family and I bought gas for 2.16 per gallon. I was told that a gallon of gas in nearby Caledonia was 2.10 per gallon.
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A relative driving up from out-of-state noticed that our prices were well above the prices he saw on his way up, which were about what you mentioned.
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Visiting relatives again in Hastings today, Sat. 12-20 and got 10 gallons of gas for $19.80. Felt good.
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What took four months to do, just reversed in the last few days completely. I see that regular gas is now back up to $2.25/gal.. As of this past Monday, I saw one station selling for $1.89/gal.. That's a 36 cent increase in just 4 days, almost 20%. How did this happen so quickly? Crude went up from $45-50/barrel, that's about 11% I figure.
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