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Are Gas Prices Rolling Over?
After months of incessant rises in average gasoline prices in the US, we note that prices actually fell today. The dramatic 0.3 cent drop in Regular (0.4c in Mid and 0.2c in Premium) may be just the implicit tax cut that the stagnant-wage-growth deleveraging-consumer needs to spur the next leg up in the new normal recovery that is priced into equities.
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Bullish.
TIMMEH!
Market destruction.....hope someone's got a bunch of empty barrels laying around.
Demand destruction is seriously underway.
The Bernank will interpret this as people waiting to fill their tanks until a month or year from now </sarc>, on expectations of falling prices, thus the need to print boatloads of Federal Reserve Notes to stave off an (allegedly bad) deflationary expectations! (deflation as inherently and always a 'bad economic development;' massively abused myth).
Wow, a third of a cent for a day. They must have opened floodgates of the strategic petroleum reserve.
Queue Iran attack, queue Iran attack. Ooops. That could throw a chimp wrench in the falling price gears.
Right when gas prices are "too high" Fed decides to pull back on printing and tank the market a little bit.
WTI at $110 is when industry yells mercy...
Haven't seen much outta Timmeh lately. Prolly reading and re-reading the 300 page IRS 2011 Tax Guide, huh. Cuz if the TreasSec can't git er done right, who can?
I appreciate your sentiment, but the Internal Revenue Code is 60,000+ pages long.
This nation is now officially akin to a retarded scientist experimenting on normal but captive mice, conducting all sorts of endless activities that mean nothing in terms of gaining incremental knowledge, but costing massive amounts of resources to conduct, and that inevitably end up killing the mice.
Sweet, now I have .3cents more to spend towards my new iPad.
Yeah Baby!!
"You get a Hummer...you get a Hummer...you get a Hummer!!!" - Oprah
I just checked the cheap gas website in my city of half a million. There is no gas under $4. Period.
Cheapest is 3.75 in Seattle
Prices dropping? I don't think so. I penned the above yesterday on Tuesday, as of today Wednesday, the lowest prices are 8 cents higher than yesterday.
In the post yesterday "Three Parts of Real Consumer Spending shows this will happen...I will edit with the link.
http://www.zerohedge.com/news/3-charts-us-consumption-crash-dead-ahead
As prices go up, consupmtion comes down...all normal but when you have a contracting market like this one consumption drops for 2 reasons and in 2008 it did not finish well. And that is not what they want right now.
Predicted by Nostradamous for sure.
Well, that's the way gas prices work. Ramp up 20% then drop 1%. Rinse, repeat.
On a side note, this "drop" will come to an end once bombs start falling on Tehran.
recovery summer! wee wee weeeeeeeeeeeeeeeeeeeee!
Pffft. China says: we won't be using energy as much as we have in the last five years. Price of oil drops.
Where to spend my new found wealth?
I can drive on Shabbos again with these rock bottom prices!
Rolling over? Nah, just a case of the hiccups.
Gas up to almost $3.78 average in my neck of the woods.
Wait until the next war of choice starring Iran gets underway. We'll pine for the good old days of $3.78 gas.
It is because of the brisk sales of Volts!
Once that rock star Obombme said he be getting one you knew everybody would want one.
LOL- ya, this is just gonna kill those sales..... All that brainwashing goes to waste...
Finally, I'll have some free cash - just in time for me to join the "Sugar Daddy Dating" service advertised in the right column of ZeroHedge.
Haha I keep looking at that, and on the other side of the page is a dating service with younger but not so sugar-daddyish nobs with upturned collars and Douche written across their forheads.
ad block i see nothing
windows "hosts" file, i see nothing
(could have used dnsmasq.conf / linux)
(dns lookups harvested via dnsmasq)
How do you block links to crappy ass music videos?
I love the upturned collars on the uber-rich middle-aged crazies around here. Cracks me the fuck up! Nothing says "douche bag" like an upturned collar!
I thought nothing said "douche bag" like self-appointed fashion police. What difference does the arrangement of a collar make? Talk about arbitrary hatred. Let people express themselves however they want.
You may be cool... But you'll NEVER be 4 popped up collars cool...
http://www.demotivationalposterz.com/2010/05/coolness-4-popped-collars.html
right. Prices will plummet just in time for the "Summer Driving Season". We're saved.
btw that was a looo-oong sentence Tyler. You should consider writing.. maybe a blog or novels or something.
Spring break is coming up.....so will gas prices.
The 0.3 cents/gallon savings will go into a special account towards my next vacation.
Hell yeah. Mebbe you can go visit your next door neighbor.
That's what Staycations are all about! Why burn up gas travelling to some far off place to meet people you've never talked with when you can do the same thing in your neighbourhood. Plan a backyard camp-out with all the kids and their parents. No need to pretend you've never talked with them before because you never have.
My neighbors don't have warm weather, palm trees, seafood, and their wives don't look good in bikinis.
I know I haven't spoken with most of mine because none of my fucking neighbors speak English. Hip hip hooray for multi-culturalism! Another gift of the liberal elite who conveniently live in all white neighborhoods themselves where people speak English and work for a living. They espouse these things for the rest of us but have no intention of living that way themselves. Gonna be fun around these parts when SHTF when people from 100 different countries figure out that the game is up.
What a dumb post. Everybody knows gas prices don't matter in our ex-energy economy.
With that .2 cent drop in premium that means I will be saving $.08 per week or $4.16 per year.
If we have more than 2 declines, we can put Lazlo's ruler to it and come up with some really big gains in discretionary spending.
Birinyi sent out his uber bullish "we aren't half way through this bull market" report to all the MSSB brokers yesterday. Hilarious. His advice is that "everyone" expects a 5% correction so you should just get long because it might not materialize.
WTF?? My shit went up a dime today, an i got a refinry so close it provides shade fo tha trailor in na eenin!!
Poor Iran. Simple democracy who has become scape goats for oil prices. It's the damn Jews ...
.03 cents was known as "Angel's Share" as a certain amount evaporates naturally.
Right, and had better buy the scotch while you can, too.
It went up over $4.00 here today.
forward three steps back two, repeat
I think there is a floor in gasoline prices with all the new demand being created in BRIC's and elsewhere combined with "technology" oil. Technology isn't cheap like the easy to get to oil. If the status quo runs prices down too far then expensive oil and gas production technology takes the hit and supply goes down even further? Supply isn't what is in the ground btw, it is what can be brought to the markets on a day to day basis.
Just filled up the Cooper S for $60. Thank God it came down 3 cents!!!
Just the cooper?
Wait until the British MG's come back from the past... some of you folks never seen or ride one.
Man those things were the bomb, course a kid like me riding on what we called the backseat (Actually the top/trunk area) was quite illegal now.
Yeah they were the bomb right before they broke down on you. You'd get lucky to go a week without it breaking down.