Tuesday, 9 May 2017

Why Do Gas Station Prices Constantly Change? Blame the Algorithm

Why Do Gas Station Prices Constantly Change? Blame the Algorithm

One recent afternoon at a Shell-branded station on the outskirts of this Dutch city, the price of a gallon of unleaded gas started ticking higher, rising more than 3½ cents by closing time. A little later, a competing station 3 miles down the road raised its price about the same amount. The two stations are among thousands of companies that use artificial-intelligence software to set prices.

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