Source: Bianco Research

 

Its the official start of the summer driving season — and that means a closer look at gasoline prices.

The peak this year was earlier than last — April 5 (2012) at 3.936 versus May 4 (2011) and 3.955.

No recent year compares to the 2008 peak at 4.105.

 

Category: Energy

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

11 Responses to “Average US Retail Gasoline Prices”

  1. There is much more in play here than seasonal rise. At the height of the Libya crisis last May, gasoline included an 83-cent/gal geopolitical fear premium. As MENA issues waned, the factor fell to 39-cents, then surged to 77-cents with the Iran episode. Today GPM is 62-cents. Another 16-cents/gal of the pump price decline is attributable to the higher USDollar. Gas still is higher than need be by 39-cents due to USD debasement since the date your celebrity President was inaugurated.

    From a fundamentals fair value perspective, gasoline could be $2.43/gal by 2014Q1 as crude oil seeks equilibrium. These are two of the nine fundamental and non-fundamental price components tracked by the Barrel Meter & Gas Pump models.

    Gas Pump model chart: http://www.trendlines.ca/free/peakoil/GasPump/GasPump.htm

  2. VennData says:

    Please, GOP, chime in. Obama’s knocked 10% off the price per bbl. How are you feeling about that?

    Oh, the President’s policies don’t affect gasoline prices? Is that the new spiel?

    Or… they would be even lower if we had lower taxes… But we do have low taxes.

    C’mon you high paid ad men, what’s the GOP Media Machine’s slogan this week?

  3. brianinla says:

    Please VennData your spiel is old. If Obama knocked 10% off gas prices then he raised it 110% since he took office. You are a boring one dimensional person.

  4. gordo365 says:

    VennData – 10%?? looks like gas went from over $4 last few months of Bush presidency — to under $2 the month he took office. Wow. That is amazing. More than 50% reduction due to President Obama. :)

  5. Vivian Darkbloom says:

    VennData,

    We should all hope that the gas price goes up—-as a result of increased demand caused by an improving economy.

    That said, I don’t know what solace can be taken from the fact that the price of gas is trending up much higher than overall demand in the economy and there is a lot more economy in the tank than there is gas.

    I’m a highly paid ad woman—so expensive that one can only afford one slogan per election cycle. The slogan this cycle is “Staggasflation”. Put that in your tank and burn it.

  6. RC says:

    Have been short crude oil via DTO. Has been a great trade so far. I will be out when crude hits $85. True price of Oil will not be found (via price discovery) until Fed is active in the scene. As soon as we get a signal that Fed is letting interest rates rise, process of price discovery for crude based on demand and supply will start. Real price for crude should be sub $50.

  7. willid3 says:

    brianinla, gop got itself into this. they blamed him for it sky rocketing. now they are quiet now that its collapsing. well, the president (any of them) get the blame for it, but no credit for it reversing. and they have no control over it either.

  8. victor says:

    In 2008 President George W. Bush said that “if there was a magic wand to wave, I’d be
    waving it” to lower prices.

    Mar-2012: President Obama said that “there are no silver bullets short term when it comes to
    gas prices—and anybody who says otherwise isn’t telling the truth.” He also noted that the
    United States uses 20 percent of the world’s annual oil consumption but has only 2 percent of the
    reserves (Note: of the currently booked, proven reserves, not of the technically recoverable reserves which are MUCH higher but off limits at the present time).

    Sort of like Gitmo: both Presidents admitted that they had no alternative to it, thus it must stay open….

    Here in LaLa land the gas prices are still way over $4/gal, no collapsing here, but it should be free, we have a $19 billion deficit and a dynamic trio (Jerry, Barbara and Dianne) telling us that education and health care should be “free”, so why not gas? and food too? Meanwhile Nancy is chomping at the bit to get her crown and scepter back in Nov. while blaming speculators fore the high gas prices but making sure no refinery gets built here and joining Schummer in begging the Saudis to increase crude production. Damned the little guy, let him eat cake.

  9. Victor, Obama’s 2% reference is just part of this Trotskyite’s hate campaign. The correct correlation to the USA’s 20% consumption rate is its share of global GDP (22.5%). America’s oil intensity has been improving for many years.

    RC, the fundamentals fair value of oil changes month-to-month and is $75 today. It has ranged from $50-$87 over the past two years. USDollar debasement is the most volatile fundamental price component. Geopolitical fear premium is the largest and most volatile non-fundamental component.

    Barrel Meter chart: http://trendlines.ca/free/peakoil/BarrelMeter/BarrelMeter.htm

  10. “…USDollar debasement is the most volatile fundamental price component…”

    hey freddie,

    Are you Sure?

    you mean, ‘in the World of the Petro$, that..”.USDollar debasement is the most volatile fundamental price component” ??

    or, the Denominator “Matters” ??

    come on, cut with the Stupid, come with the Thesis (if that’s ‘possible’)..

  11. Be patient with Mark Hoffer folks. He becomes an obnoxious idiot when his mom kicks him out of her basement to do the Spring cleaning.

    The Barrel Meter & Gas Pump models have chart tracked petroleum price components on a monthly basis since 2004. USD debasement has ranged from the $30/barrel high in July 2008 to a mere $1 on the date of the celebrity President’s inauguration. It stands at $18 today. The other fundamental components are inventory draw, surplus capacity & extraction costs. Besides geopolitical fear premium, the other non-fundamental price components are media noise-du-jour & speculation/hedging activity.