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Time To Start Looking At The Pump Prices Again
In late February and early March, gas prices were all the rage with every media outlet quoting them ad nauseum until European distresses reclaimed the headlines and suddenly, gas prices became irrelevant once again in the minds of the politicians and media - despite only a very modest drop from their near-record highs. Retail gas prices have indeed fallen for the last three weeks and some have heralded this 13c drop as the second-coming of tax-rebates for consumers in the US. However, in the last few weeks, Crude oil prices have rallied somewhat smartly from under $101 to over $106 this morning (back to one-month highs). RBOB (wholesale gasoline) prices have also - in the last few days - started to push higher with their 'normal' few-week lag. Given the historical precedent, we would expect to see retail gasoline prices stabilize and turn up once again within the next week or two - just in time for the winter-warmth effects to wear off on the macro-economy and the summer driving season to begin - burning an ever-bigger hole in the household's pocket.
Chart: Bloomberg
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MSM figured out quick that shining a light on gas prices wasn't going to help their man get re-elected. Don't look for it in the news again until mid-November, if at all.
http://legalinsurrection.com/2012/03/gas-pump-post-it-revolt-reignites/
I love higher gas prices. Fewer public dole morons clogging up the freeways, that is, until they start indexing public dole money to gas prices.
I'm with you man - sure it costs more, but when we're driving for vacation less time spent travelling is well worth it.
all I hear on the MSM is about natural gas...
ass faces produce anal vapor
It might not be in the news, but we're all going to get the message every time we pull up to the pump. No hiding this one, and that's a problem for Bernanke. A no-QE type of problem.
read : banksta distresses in Europe...and everything becomes clear; its banksta welfare first and people's welfare way down the list! If the City and WS and Deutsch Borse interests are those of "Europe", then you are right.
I only look at gas prices as I ride my bike past gas stations.
I wave to the folks filling up their SUV's......
A Hummer owner gets a wave and a thumbs up...
I wonder if a vehicle can be invented to run on fiat?
Looking forward to my $500 electric bill this summer...
We cut down on our electric bill by washing all clothes in cold water only and adding lysol or pine sol to kill germs.
Are you having to buy that Tide Cold Water detergent on the black market yet?
I was able to source some black market Tide Cold Water behind a 7/11 a few days ago (no source checks please). Sold it in a plastic bag though, hard to tell if I got legit product; gonna take it to a black market underground lab for testing. This is really becoming expensive guys.
Everytime I pump I feel the hose.
I am so sick of the crap the Media pushes as news.
saw an article the other day get healine recognition for a woman killing a man by squeezing his testicles over a parking spot.
Hey...Isn't Dancing with the Stars on tonight??
It's called sensationalism,and Drudge lives and breathes it.
Bolivia now seizes control of a Spanish company...is this the new way cold wars are fought?
Europe has pump prices and higher and up again, yet nobody seems to care. For them, prices dropped and they could not
be even bothered whether it be up or down, all they get is stingy . Mean vehicles dis-figuring the streets is the new normal, let them all burn to save fuel.
This is the main reason why Europe is in recession. Granted, technocrats get the blame, and they should.....but the fate of the Euro consumer AND small business lies directly with the outrageous gas prices in that part of the world.
Wait until gas hit $5 here. Or even $6. Maybe then, we can finally get the discussion on why we let a private central bank run the only valid form of currency that is allowed to buy the world's #2 commodity (after water, IMO).
Notice how WTI was up this AM when the ISM report was good? Just a coincidence I am sure ...
sschu
Yes a weird move ...at least for me...a momo move I guess...because other commodities were down...grains...gold...etc...its a Communist Holiday in most of the world...so not a "normal" market...if we even have one of those anymore...
...some facts to ponder:
*According to a study by Cornell University, for every gallon of ethanol produced, 1.4 gallons of energy is consumed in the process, compared to 0.15 gallons used in the manufacture of gasoline.
*It takes 1.5 gallons of ethanol (E-85) to drive as many miles as one gallon of gasoline.
*taken from calgasoline.com "top ten facts about ethanol"
I'm raising all my monthly accounts in June now since fuel prices have stayed high for a year now. Passing it on.
A buck 30 a litre for premium in Canada. I paid a buck 40 a litre 2 years ago. 110 bucks to fill up the car. Stupid gas station made me do 2 transactions because the pump stops at 100 dollars. No ethanol in premium gas.