Sunday, February 23, 2014

New Esurance Site Says It Can Predict If Local Gas Prices Will Rise Or Fall 90% Of The Time

Fuelcaster.com displays the 10 cheapest gas stations in any given zip code and uses data from GasBuddy.com to predict whether prices will rise or fall in the next 24 hours. Users are told whether they should buy gas now or wait until tomorrow.



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For anyone who has experienced the despair of filling up a tank of gas and then seeing a cheaper price at another station — or worse, at the same station the next day — Esurance says it can help with a new website, Fuelcaster.


The site asks users to enter their zip code, then tells them whether to buy gas now or wait until the next day. Fuelcaster, which relies heavily on data from GasBuddy.com, says it can predict whether the price will rise or fall during the next 24 hours with roughly 90% accuracy. Esurance, an online insurer owned by Allstate, says it tested thousands of scenarios with zip codes across the country to make that claim. Fuelcaster also displays the 10 gas stations in the area with the cheapest prices and what the current cost per gallon is.


"What you'll find is a ton of apps — both free and paid — that show gas prices, but none that focus on retail with the granularity that Fuelcaster does," Esurance said in an e-mail to BuzzFeed. "The bulk of the data comes from GasBuddy.com, which is all user generated content. (Other) prediction sites are more focused on wholesale gas prices, versus local retail, which is what GasBuddy does."



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