This is "oh,oh" for another reason.
Over the past several months I have been surprised that US gasoline demand was not increasing in line with the improving economy. I attributed that to the rising price of gasoline and "demand destruction," as they say.
Well, well, well, look at this. And I say "oh, oh" because if gasoline demand is going up despite prices going up, all things being equal, prices should continue to go up.
The increase looks real, trending back to 9.5 million bbls per day as a four-week average. The most recent week: 9.6 million bbls.
My 2 cents worth:
ReplyDeleteLeftist dont get that, even after intital sticker shock, Americans are going to do what Americans want to do.
If going to the beach/mountains/sporting event, etc is important enough we will fit it into our budget, or do outside of the budget, because its important to us.
They dont get that. Lets go Brandon!
I agree. And as I've often said, a "fill up" may seem expensive but as a percent of total family expenditures, gasoline is still a bargain.
DeleteIf I'm not mistaken (quite possible) with inflation we are still on par with 1970's gas prices.
ReplyDeleteI remember 25 cent/gal. Also remember when it first will $1.00. You'd of thought the world was going to end, yet here we are, 50 yrs later.
That's probably something I should review / post.
ReplyDelete