Friday, July 13, 2007

Gas Way Up

In case you missed it:
PEORIA - Gas prices jumped about 20 cents in central Illinois during the past two days, to between roughly $3.15 and $3.30 a gallon for regular unleaded.

Flooding at a refinery in Coffeyville, Kan., and the shutdown of a huge Indiana oil processing unit for maintenance were blamed for the increase.

In the next few days, prices in the Midwest could reach upwards of $3.50 a gallon, said Tom Kloza, Oil Price Information Service publisher.
I understand that these prices aren’t historically unprecedented (taking inflation into account) but the volatility of the cost is just nuts. It’s like being a day trader trying to figure out the precise moment when it’s best to buy. I actually find myself doing gasoline algorithms based on how long it’s been since a price increase (or how long prices have been creeping down), the level of my fuel tank, the day of the week, and if there’s been any news that might be used as an excuse to raise prices. The difference between toping off today or waiting until tomorrow can be $5 or $10. Not a huge deal, but it pisses you off when you have to shell out those extra bucks because you gambled on lower prices one day too long.


Anonymous said...

It's not just Peoria. If anything Springfield seems to be the epicenter of jumping bean gas prices. You can keep an eye on it at

I follow the oil/gas news so we managed to fill our cars the night before the latest price bump. Hopefully they'll do their usual slow trickle back down before we need to fill again.

Anonymous said...

Not a huge deal, but it pisses you off when you have to shell out those extra bucks

Actually, it is a big deal for us poor-er folk. Teeangers and most college students don't have a full time job with a regular salary, so to them, and especially to me, the difference between $5 and $10 is enormous. I actually made the decision to walk 30 minutes to class everyday mainly because I knew it would save that little bit of gas (although, to be fair, part of the decision was made because I didn't want to pay for a parking pass and because now I enjoy it- very relaxing)

Anonymous said...


I didn't even have a car in college. I walked everywhere; to class, to the grocery store (every 2 days), to the bars (OK, I had some money for beer). But basically, my choice was between having money for school and having money for a car. And that was during the last really big gas price flare-up in the late '70s and early '80s. But I don't remember the wild price fluctuations back then. What now takes days in price variation, took months or years.

But your point is well taken. The less you have, the more that extra few dollars makes a difference.

Anonymous said...

By the way, the mini van is on empty, dear.


Anonymous said...

Sorry, we have to wait. Prices are too high.

Anonymous said...

I been down here in Florida for vacation and prices here have maintained at around $2.85 per gallon. That also includes I-Drive and Disney stations. Kissimmee has gas at $2.75. Good ol Ill, higher taxes on everything.