Why This Day Is Generally The Cheapest Day Of The Week To Fill Up

May 25, 2017

© Daniel Korzeniewski | Dreamstime

AAA says the lower gas prices and an improved economy are factors for a prediction of the busiest Memorial Day travel weekend in over 10 years.  All those cars on the road mean they need gasoline and after studying three years of pricing analysis, the U.S. Energy Information Administration says Monday are generally the day’s gas prices are lowest for the week, followed by Tuesday.  Here’s why.  Oil refiners and distributors typically do not adjust prices until after the commodity markets open on Monday. Although oil commodities are traded over the weekend, the volume is very low.  If there is an increase in the price of an oil barrel, it generally will take up to four days for the prices to be adjusted, which is why Thursday would be your most expensive day to fill up. Of course this system works in reverse if oil prices decrease but the prices generally don't fall as fast at the pump as they rise. 

SOURCE: The Street

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