Gas Again
I’m tired of hearing about gas prices, and I bet you all are too. But it’s one of those “necessities” or at least a “perceived necessity” and the price is obvious from the street. When the price of TVs goes up it’s hard to tell unless you’re in the store every day. But when gas goes up you can see it just driving to work, and it gives you something to talk about.
Anyway, it’s not clear where gas prices are going to go, although I think we’re going to be above $3/gallon for the foreseable future. From an article:
Friday’s price uncertainty reflected a ongoing battle in the oil market between investors who feel prices have risen too far, and those who think global demand and tight supplies justify prices in the $130s - or higher.
[…]
Andy Lebow, senior vice president at MF Global LLC in New York, said investors are uncertain whether the past week’s nearly $10 price decline is a correction in a bull market, or a sign that the bull market has run its course.
[…]
If oil prices fall, gas prices will eventually follow, analysts say. At the moment, there may be too much momentum left over from oil’s sharp rise in recent weeks to stop gas prices from hitting $4.