On This Day In History, Gas Prices Have Never Been Higher

It seems not a day goes by when the mainstream media (or your local friendly asset gatherer) proclaims the drop in gas prices from a Middle-East-turmoiling Summer as "great news" and very positive and an implicit tax cut... as they try to juice hopes and dreams of a better-than-expected holiday spending season. The sad truth - something unusual in this new normal - is that regular gas prices (at $3.258) have never been higher on Christmas Eve. It seems context does matter...

 

Yesterday, we inched out 2012's $3.247 and moved to $3.258 per gallon...

 

This is the first time since March that gas prices have been at seasonally-comparable record highs.

 

Source: Bloomberg

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