Eli5: How do companies predict if gas will go up tomorrow?

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Where I live they always predict on the radio if gas will go up or down tomorrow and get it right. What is involved in making that prediction?

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Anonymous 0 Comments

it’s mostly data mining. basically, you just collect a bunch of data you think might be related to gas prices. then a computer tells you which factors are indeed able to predict them, and it gives you a formula based on those results, and you just use that.

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