«
»

Gasoline Prices

Email this post Print this post
By Peter Boockvar - June 17th, 2009, 11:07AM

The higher than expected build in gasoline prices in today’s weekly DOE data is sending front month gasoline futures down 2.5%. This may result, in the next few days, in the very first decline in retail gasoline prices at the pump since April 28th, as measured by the daily AAA national unleaded gasoline price survey. During this period, the average retail price has risen from $2.05 per gallon to $2.68 as of yesterday. Prices bottomed at $1.62 on Dec 30th. This $1.06 rise in gasoline prices since Dec results in an extra $146b annualized that consumers need to cough up.

PERMALINK
Category: MacroNotes.

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

One Response to “Gasoline Prices”

  1. leftback Says:
    June 17th, 2009 at 4:49 pm

    Gasoline has reached October 2008 levels. Another reflation trade that may be done for the time being.

48 queries. 0.347 seconds.