Gas Prices Keep Falling in Flint
Driving around the Flint area today, I noticed the price of gasoline has fallen below $3.30 in many places. The lowest price I personally witnessed was $3.27.
The price of crude oil is continuing to fall, and wholesale prices of unleaded gasoline also continue to decline. Oddly, oil and gasoline are sold as separate commodities. Usually, when the price of crude oil declines, the price of gasoline (which is made from crude oil) also falls.
Usually. Since crude oil and unleaded gasoline are sold in the open market as individual commodities, the prices are determined by the whims of the marketplace. Ordinarily, the laws of supply and demand determine the price we pay for gas.
It doesn’t always work that way in the real world.
I try to follow the prices of commodities, and by doing so, I can usually see when a price increase is coming, or sometimes, a decline in prices. I have no direct investments in any of these commodities.
You can follow the markets by visiting this link: http://money.cnn.com/data/commodities/
You never know when the next 40 or 50 cent increase is coming, so it’s not a bad idea to keep your tank as full as possible when the prices are low.