Q:

How do you predict upcoming gas prices?

A:

Quick Answer

Gas prices are predicted in advance, like many other goods on the market, by looking at past price history, available supply and demand and fees or interest rates, according to Zacks.com. In the case of gasoline prices, the commodity price of crude oil effects gas in the long-term since gasoline is made from oil.

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Full Answer

Customers who want to get a more immediate idea of gasoline prices over the course of the next day or two can turn to an online gas price predictor. These websites use economic research and software to predict whether gas prices at the pump will go up or down over the next few days.

One such site is Fuelcaster.com, which is run by Esurance. This site provides information on gas prices for the user's local ZIP code. Fuelcaster.com indicates whether customers should wait or fill up on gas that day to avoid a pending price increase. The site also provides a listing of local gas stations and the predicted prices on gas for each station at the bottom of the screen. With this information, customers can even decide ahead of time where they plan to fill up for maximum cost savings.

Customers can add multiple ZIP codes to Fuelcaster.com to get a better idea of tomorrow's prices across the local area, according to the website.

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