Quote:
Originally Posted by jamesqf
The real problem here is how do you tell when prices are cheap? For instance, not that long ago it was around $4/gal, then dropped to $3. That's cheap, right? So if you bought a bunch of cheap $3 gas, you'd have missed out when it went below $2.50.
OTOH, if you really can reliably forecast price changes, you should get a job on Wall Street and not have to worry about the cost of a few gallons of gas :-)
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Haha. No I cannot predict market prices but from current market prices I can predict next week gas prices. The New Economic definition of Day traders = Idiots. I am not really into investing but more of curiosity as I like to learn Economics even though I am more technically inclined.
You can see price movements on the web such as
CNBC Quote Modules
From that chart you could see next week prices are going to soar. Or a simple one but a day late such as
Crude Oil Price, Oil, Energy, Petroleum, Oil Price, WTI & Brent Oil, Oil Price Charts and Oil Price Forecast
I think in the US there are apps where they can tell you what current prices are at where you live. Its like Waze for gas. Countries outside the US would also have to look at currency exchange rates. I typically use
XE - The World's Trusted Currency Authority
These two variables are the main indicators for pump price fluctuations. The other being refinery profits but that is a bit harder to find out. You just need to have a glimpse of the charts to get an idea where its heading.