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[0]Ben Franklin coined the term "a penny saved, is a penny earned." For consumers today, that phrase carries some weight at the gas pump.
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"I'll drive an extra mile to save five-cents, ha ha, I really will," says Jamie Michael. Like most drivers, Michael loves saving money on gas. The recent drop in prices puts more Franklin's in his wallet.
But could he be saving more by unlocking the formula behind area fuel prices? Michael says "no, I've been trying though, I've thought about it, don't think I haven't."
[0]Over the past four weeks, we monitored the price of regular unleaded at 65 local stations, with the help of our WDEF.com Gas Gauge [0] spotters. What we found may shed some light on what goes on behind these numbers. While not scientific, several trends emerged.
Trend #1: Prices at pumps along Highway 58 tend to be the same. During our tracking period, 8 stations between Highway 153 and Harrison Bay posted the same price or varied by two-cents over 50% of the time.
[0]Cleveland, TN (11/11/08)Trend #2: On average, prices in Cleveland sit highest in the region, with stations clustered off the Interstate at Paul Huff Parkway as much as $0.40 higher than those just a few miles down the road. Eddie Kelley noticed that trend. "I drive back and forth everyday so I see the difference in it from here to Cleveland, I mean there's that much difference in gas between here and Cleveland."
Trend #3: The cheapest day to fill-up? Wednesday bests all days. Prices fell an average of $0.055 on hump day over the past four-weeks.
Trend #4: Competition remains king in Ooltewah. Steve Ray, owner of Midnite Oil, says "if the guy up the street goes to $1.96, I go to $1.96. But in the same respect if he goes to $2.10, I go to $2.10. I'm not against making money, don't get me wrong."
Trend #5: The worst day to fill-up? Ray backs up something we noticed. "Normally on a Monday, gas goes up especially after a day like Friday when it went down," says Ray. While it didn't go up during our tracking period, it barely went down, despite record declines in oil prices.
Trend #6: Data shows big box stores, like Wal-mart, force competitors in Ooltewah, Athens, Fort Oglethorpe, and Dalton to stay on their toes. That got Terry Nelson's attention. "On my way to Chattanooga I stop and get gas here."
Trend #7: In Dalton, location doesn't always matter. Stations near the outskirts of town sometimes offer the best bargains.
Secrets revealed? "I've never noticed that, no I've never noticed any trends," says Michael. But now that he, and others, know these secrets, the next time prices tick up... you'll be armed with a few extra money-saving tips.
Have you noticed any trends? Post them here under comments. Also, click here to become a WDEF.com Gas Gauge spotter. [1]
| Attachment | Size |
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| Gas Price Data Week 1 and 2.htm_.txt [2] | 68.03 KB |
| Gas Price Data Week 3 and 4.htm_.txt [3] | 67.45 KB |
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