Tom Kloza
Tom Kloza
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You may see local street prices drift lower, ... That's how far behind pump prices were in catching up to the wholesale price.
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The flow of money into commodities is comparable with the flow of money into mutual funds in the 1980s and 1990s. It's like steroids, pumping up prices and leading people to talk about super-spikes to $100 a barrel or more.
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We will probably see some states this week with retail gasoline prices of $2 a gallon or lower.
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It was the typical bipolar year with more manic stages than depressive stages.
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The wheels are in motion. It just takes a while for it to deluge into retail.
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You're going to see much higher gas prices next year. Many, many parts of the country will see over $3.
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People should welcome it, but don't get used to it. I don't think we're looking at a return to the prices we saw in 2002 or 2003.
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One would wonder what the prices would be if it had actually been cold.
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Last year the market was anticipating such an incredible spring they valued the winter gasoline even a bit higher.
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I can tell you traders aren't thrilled by that idea.
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We're looking at some pretty compelling increases mostly for gasoline, and it's based on worry,
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It's really hard to get a fix on where things are going right now. It's just really volatile. Mostly, though, it's going to be onward and upward.
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It looks like things will go a little higher -- right around $3 a gallon, ... But it's not going to happen at light speed like it did last time with Katrina.
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We are seeing a smattering of sub-$2 prices surfacing like premature crocuses across the country, and we may see a flirtation with $2 or less in a broad swath of the country this month.