Presented with little comment except to remind all those newly refreshed consumers that for every penny rise in pump prices, more than $1bn is added to the hoousehold spending bill (assuming driving habits are unaffected - which brings its own set of unintended consequential events). And in the past month alone, gas prices have increased by precisely 30 cents [2].
For this week of the year, we have never seen higher prices of Gasoline...
[3]
and we note that gas prices are rising at almost the same analog rate as last year (and well above average) which offers little hope for the notably higher absolute levels which is all important for our pocket-books...
[4]
Charts: Bloomberg
(h/t John Lohman [5])