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Gas Ends 26 Day Price Decline

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  • Description

    Patrick DeHaan of GasBuddy.com on the current state of national gas prices.

  • Duration 3:48
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Five gas up slightly overnight ending a 26 -- street where gas prices went down every day we've now moved up 350 full.

That's as I said 26 days mystery is move it's gone single.

The national average of a gallon of gas I think we've gone through this dude I don't need to do this again to -- yes I did because this is the introduction to Patrick.

So let it replace gas prices went up a little overnight and the -- dot com -- joins us from Chicago I wanna look.

Is that any place in the country now all were on combined gas for less than three bucks a gallon with the two dollar a gallon handle.

Absolutely are your favorite to handle they're just about anywhere in South Carolina now a lot.

Just waiting here probably is were talking Greenville south Carolina's average.

We'll go under three dollars so gas is cheapest to 89 their -- -- -- feeling vacationing in South Carolina -- -- wonderful stage as a matter of fact but I wanna know why it's so cheap in South Carolina and united.

-- the combination of low gas taxes and proximity to the Gulf Coast bull play in south Carolina's favour and not.

United goes to sell gas tax is really make a big difference at the pump.

Not that Patrick I hate to spring this on you but I got an email here from a gentleman who whose email from Lorton Michigan.

Again I hate to spring this on but I wonder if you've got -- answer to his question he says look gas was 369.

Yesterday -- morning this is Lorton Michigan.

And -- in the afternoon they went up to 389.

He wants to know why you -- idea.

Absolutely I am very from -- of what's going on in Michigan.

They see prices -- twenty cents overnight it's a different pricing strategy instead of seeing prices slowly go up or slowly go down.

In Michigan and the rest of the Great Lakes prices spike.

We're seeing prices go up now in the Great Lakes because of some refinery issues.

That are going on that may take a few weeks so the west coasts are refining problems those are all over.

And now shifts to the -- -- where they're saying refining.

So you're saying this is out of refine at this is a pricing strategy.

They figured the prices are gonna go up graduates of the do we just in one lump sum all of a sudden boom upping goes twenty cents.

That's that's strategy really.

Well that that's right -- leaving leading chain out there at the CFTC even knows about it it's called.

Price cycle and where prices go down very quickly and then they shoot right back up to profitability it's it's very different.

And it's only something that occurs in the Great Lakes all right interesting show you got a question.

Chicken carries a -- a local gas station owner on Fox Business.

Couple couple weeks ago and he told me that.

I think -- -- if oil prices shooting down how come gasoline prices -- your level for your customers are not going -- -- while I have to make up.

-- what I lost when I was paying more.

Absolutely competition.

Limits how fast prices go up and it limits how fast they go to a look at the West Coast.

Where prices when we are having refining issues wholesale prices shot up.

35 cents but pump prices only went up a penny a -- that that money's got to be made up somewhere and it's on the downside we're stations make that up.

By the way Patrick in my town in New Jersey there's a forty cent -- gallon range for a gallon of regular.

You -- you three such in one place and literally 200 yards down the road you -- -- 36370.

Very easily that's a huge spread in the same town.

But you know patterns you know you've made a fortune out of Bonnie and company because we always what you wanna tell everybody way to get the cheapest gas he did it again today Patrick -- I want commission we'll see you soon thank you reported that banks trying to --

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