UPDATE: Gas Prices reach all-time high in Oklahoma City
With the bond vigilantes still suppressed by the heavy boot of central bank intervention, the role of 'governor' of monetary (and fiscal implicitly) largesse has been left to the energy markets around the world. As we noted here
, the Brent Vigilantes have indeed capped economic gains in the past few years (and perhaps more worryingly for investors, as we detailed here
, have capped P/E expansion hopes
). Sure enough, with a one-month lead, crude oil prices are leading retail gas prices higher
(now near three-month highs) which point to a rally-ending, economy-sapping $3.80 price within the next few weeks (unless oil prices are rapidly suppressed too).
and as a reminder, seasonally, things are picking up...
and while we are still below record levels on the average, there are pockets where prices are already at record highs...
According to AAA Oklahoma's gas price tracking website
, on Sunday, the average price in Oklahoma City for a gallon of self-serve regular gasoline is at its highest point ever, $3.963, breaking Saturday's price of $3.952, which was also a record high.