GasBuddyGuy has been forecasting increased gasoline demand for so long now he has lost a bit of credibility. Maybe this time he will be correct. But 9%?
By the way, if there is a significant jump in gasoline demand, this is a great example of human behavior. When the price of gasoline shot up so quickly, people were in shock, had to readjust their thinking and their budgets. That took a couple of weeks, maybe a month. They weren't quite ready for this by Memorial Day. A lot of "hoping" that the jump in gasoline prices were temporary and would quickly drop back as the oil companies "caught up" / reacted.
Didn't happen.
Folks saw that the jump in gasoline prices wasn't temporary; prices would get worse, if anything.
They readjusted their budget, got a new credit card to be used exclusively for gasoline purchases to keep better track of their driving expenses, probably delayed getting a new car, definitely put on hold any new furniture purposes. And then got back to what Americans do best: drive and use more gasoline.
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Cryptocurrency
As a reminder, I seldom track cryptocurrency but when I do, one can find the updates here.
The next one to watch: Tether.
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