An oversupply of gasoline stocks generally causes competitive price reductions that spread among stations in an area until prices change almost daily. Such a “gas war” opens excellent buying opportunities if you keep alert for price differentials. Certain areas of a city, suburb, or strip of developed highway consistently lower prices first and reach a lower level than other areas. These hotly competitive areas may be at the edge of town, near a bulk plant, or close to a fiercely competitive independent station. Watch these indicator station for clues to price movements. When the price heads down, wait to fill your tank as long as possible, then buy 10 gallons or half a tank only. If one of these low-cost stations is close to your commuting route or shopping area, plan ahead to fill up at a saving. Too much trouble, you say? Let’s see – From Table 2B you can read that running costs average about 3.65 cents per mile. If a competitive station offers three cents off – the savings from buying only one and a third gallons pays the out-of-pocket cost for a trip one mile out of your way. By timing your fill-ups, you can save perhaps 45 cents per tankful – about 10 per cent of your gasoline bill. If your indicator station suddenly raises its price, immediately find a station that has not yet changed its price and fill up. Two or three days sometimes slip by before all stations know the “gas war” is settled.
Related Websites - On Going Naked In a previous post on WCI, I had mentioned that I had sold some March 2007 Calls. When you sell a call and you own the underlying stock, its called selling (or writing) covered calls. In my case, where I...
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