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Are Gas Prices Rolling Over?

Tyler Durden's picture




 

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.

Source: AAA

 

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Tue, 03/06/2012 - 18:51 | 2230179 nope-1004
nope-1004's picture

Bullish. 

Tue, 03/06/2012 - 18:56 | 2230193 Gypsyducks
Gypsyducks's picture

TIMMEH!

Tue, 03/06/2012 - 19:06 | 2230220 GetZeeGold
GetZeeGold's picture

 

 

Market destruction.....hope someone's got a bunch of empty barrels laying around.

 

 

Tue, 03/06/2012 - 19:16 | 2230253 TruthInSunshine
TruthInSunshine's picture

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).

Tue, 03/06/2012 - 19:37 | 2230301 Cheesy Bastard
Cheesy Bastard's picture

Wow, a third of a cent for a day.  They must have opened floodgates of the strategic petroleum reserve.

Tue, 03/06/2012 - 20:03 | 2230403 The Big Ching-aso
The Big Ching-aso's picture

 

 

Queue Iran attack, queue Iran attack.    Ooops.   That could throw a chimp wrench in the falling price gears.

Tue, 03/06/2012 - 22:10 | 2230747 AldousHuxley
AldousHuxley's picture

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...

Tue, 03/06/2012 - 19:07 | 2230227 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

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?

Tue, 03/06/2012 - 22:11 | 2230667 TruthInSunshine
TruthInSunshine's picture

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.

Tue, 03/06/2012 - 19:22 | 2230270 SHEEPFUKKER
SHEEPFUKKER's picture

Sweet, now I have .3cents more to spend towards my new iPad. 

Tue, 03/06/2012 - 19:26 | 2230276 LongSoupLine
LongSoupLine's picture

Yeah Baby!!

"You get a Hummer...you get a Hummer...you get a Hummer!!!" - Oprah

Tue, 03/06/2012 - 18:54 | 2230187 rufusbird
rufusbird's picture

I just checked the cheap gas website in my city of half a million. There is no gas under $4. Period.

 

Tue, 03/06/2012 - 21:16 | 2230617 alex_g
alex_g's picture

Cheapest is 3.75 in Seattle

Wed, 03/07/2012 - 08:50 | 2231608 rufusbird
rufusbird's picture

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.

Tue, 03/06/2012 - 19:01 | 2230188 JPM Hater001
JPM Hater001's picture

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.

Tue, 03/06/2012 - 18:56 | 2230195 navy62802
navy62802's picture

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.

Tue, 03/06/2012 - 18:58 | 2230199 AbruptlyKawaii
AbruptlyKawaii's picture

recovery summer! wee wee weeeeeeeeeeeeeeeeeeeee!

Tue, 03/06/2012 - 19:00 | 2230207 RSloane
RSloane's picture

Pffft. China says: we won't be using energy as much as we have in the last five years. Price of oil drops.

Tue, 03/06/2012 - 19:01 | 2230210 Gene Parmesan
Gene Parmesan's picture

Where to spend my new found wealth?

Tue, 03/06/2012 - 19:02 | 2230213 RollOnShabbos
RollOnShabbos's picture

I can drive on Shabbos again with these rock bottom prices!

Tue, 03/06/2012 - 19:02 | 2230214 Tsar Pointless
Tsar Pointless's picture

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.

Tue, 03/06/2012 - 19:03 | 2230215 Blue Dingo
Blue Dingo's picture

It is because of the brisk sales of Volts!

Tue, 03/06/2012 - 19:09 | 2230230 Taterboy
Taterboy's picture

Once that rock star Obombme said he be getting one you knew everybody would want one.

Tue, 03/06/2012 - 19:10 | 2230233 jcaz
jcaz's picture

LOL- ya, this is just gonna kill those sales.....  All that brainwashing goes to waste...

Tue, 03/06/2012 - 19:11 | 2230236 thatthingcanfly
thatthingcanfly's picture

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.

Tue, 03/06/2012 - 19:13 | 2230243 RSloane
RSloane's picture

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.

Tue, 03/06/2012 - 19:18 | 2230259 AbruptlyKawaii
AbruptlyKawaii's picture

ad block i see nothing

Wed, 03/07/2012 - 00:13 | 2231016 Goldilocks
Goldilocks's picture

windows "hosts" file, i see nothing
(could have used dnsmasq.conf / linux)
(dns lookups harvested via dnsmasq)

Wed, 03/07/2012 - 00:48 | 2231092 francis_sawyer
francis_sawyer's picture

How do you block links to crappy ass music videos?

Tue, 03/06/2012 - 19:29 | 2230283 VelvetHog
VelvetHog's picture

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! 

Tue, 03/06/2012 - 19:48 | 2230355 Hansel
Hansel's picture

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.

Wed, 03/07/2012 - 00:50 | 2231096 francis_sawyer
francis_sawyer's picture

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

Tue, 03/06/2012 - 19:11 | 2230237 RacerX
RacerX's picture

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.

Tue, 03/06/2012 - 19:12 | 2230239 GubbermintWorker
GubbermintWorker's picture

Spring break is coming up.....so will gas prices.

Tue, 03/06/2012 - 19:14 | 2230247 Vince Clortho
Vince Clortho's picture

The 0.3 cents/gallon savings will go into a special account towards my next vacation.

Tue, 03/06/2012 - 19:25 | 2230273 RSloane
RSloane's picture

Hell yeah. Mebbe you can go visit your next door neighbor.

Tue, 03/06/2012 - 19:38 | 2230311 Long-John-Silver
Long-John-Silver's picture

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.

Tue, 03/06/2012 - 21:30 | 2230647 GubbermintWorker
GubbermintWorker's picture

My neighbors don't have warm weather, palm trees, seafood, and their wives don't look good in bikinis.

 

Wed, 03/07/2012 - 08:46 | 2231603 j0nx
j0nx's picture

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.

Tue, 03/06/2012 - 19:34 | 2230293 Reese Bobby
Reese Bobby's picture

What a dumb post.  Everybody knows gas prices don't matter in our ex-energy economy.

Tue, 03/06/2012 - 19:45 | 2230341 rosiescenario
rosiescenario's picture

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.

Tue, 03/06/2012 - 19:56 | 2230380 Central Bankster
Central Bankster's picture

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.

Tue, 03/06/2012 - 20:00 | 2230395 Stoploss
Stoploss's picture

WTF?? My shit went up a dime today, an i got a refinry so close it provides shade fo tha trailor in na eenin!!

Tue, 03/06/2012 - 20:12 | 2230434 FrankThinkTank
FrankThinkTank's picture

Poor Iran. Simple democracy who has become scape goats for oil prices. It's the damn Jews ...

Tue, 03/06/2012 - 20:13 | 2230436 HungrySeagull
HungrySeagull's picture

.03 cents was known as "Angel's Share" as a certain amount evaporates naturally.

Tue, 03/06/2012 - 20:39 | 2230522 DanDaley
DanDaley's picture

Right, and had better buy the scotch while you can, too.

Tue, 03/06/2012 - 20:13 | 2230437 Dr. Engali
Dr. Engali's picture

It went up over $4.00 here today.

Tue, 03/06/2012 - 20:55 | 2230566 non_anon
non_anon's picture

forward three steps back two, repeat

Tue, 03/06/2012 - 21:08 | 2230597 deflator
deflator's picture

 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.

Tue, 03/06/2012 - 21:12 | 2230610 urbanelf
urbanelf's picture

Just filled up the Cooper S for $60.  Thank God it came down 3 cents!!!

Wed, 03/07/2012 - 03:32 | 2231339 HungrySeagull
HungrySeagull's picture

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.

Wed, 03/07/2012 - 08:48 | 2231604 j0nx
j0nx's picture

Yeah they were the bomb right before they broke down on you. You'd get lucky to go a week without it breaking down.

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