Gas Prices More Than Stable
- Posted by TheArmoTrader
- on April 11th, 2013
Gas Prices, despite not being at the low of the year are more than stable. In fact, gas prices have been showing some major positives for consumers. First off, despite the rise in the first 2 months of the year (which didn’t go as high as other times), prices have retreated modestly (almost 20 cents) since the peak in mid-February.
18 Month Average Retail Price Chart
But this doesn’t say as much as the next chart does. Below is a 5 year chart of US Regular Conventional Gas. Ever since prices recovered in late 2009, we had rarely seen any negative year-over-year readings. However, just last week, we had the biggest negative reading at almost -9%. And not only that, but this is the 6th week that we’ve had a negative reading. Given all the monetary stimulus efforts, and the always-around-the-corner middle-east war/skirmish, this is pretty impressive. (Some of the price decline is due to the collapsing spread in Brent-WTI)
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Jerry Khachoyan is currently an undergraduate student at UCLA pursuing a degree in Political Science. He started trading in September of 2008. He concentrates on using technical analysis and reading the tape to enter the best risk/reward trades. The stock market to him is one of the greatest inventions by man.
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