Gas Prices More Than Stable

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

GasBuddyApr10edit

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)

 

 

Tags: $UGA $RB_F $CL_F $BNO $USO $UCO $MACRO

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