GAS PRICE UP & DOWN

It’s all a matter of perspective. The two charts below reveal the volatile nature of gas prices over time. Here are some unequivocal facts:

  • Gas prices have risen by 37% in the last 100 days.
  • Gas prices are exactly where they were last September.
  • Gas prices are 16% lower than they were last Memorial Day weekend.
  • Inflation adjusted gas prices are 50% lower than their 2008 record high.
  • Inflation adjusted gas prices are 38% below 1980 levels.
  • Inflation adjusted gas prices are 46% above the December 2008 financial crisis lows.

How’s that for volatility. Anyone who authoritatively acts like they know where oil/gasoline prices will go in the future are lying. The current uptrend will likely collapse, as financial shenanigans by Wall Street are the main reason for the surge in prices. Longer term, as the shale oil miracle disappears and conflict in the Middle East surges, prices will likely blast through the $3.00 level again. So, in conclusion – gas prices will rise and fall.


Chart of the Day


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Iconoclast421
Iconoclast421

I feel so ripped off. I only got to fill up twice when gas was under $2 a gallon.

kokoda
kokoda

the Fed suddenly has a problem. Here’s why.

Isn’t their problem related to higher interest payments on the debt when rates are hiked?

phoolish
phoolish

Gas price here hit $1.06 in Feb. Today some stations are selling for $2.39. Can get it for $2.09-2.19 generally. Easliy more than doubled in 3 months. Historically (last few years), yearly maximum price has occurred on Memorial Day or in the week immediately following.

Suzanna
Suzanna

they fired up the Canadian tar sands to help bring the price of gas up,
that’s the way gov rolls

TPC
TPC

So…its global warming. Gotcha.

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