Are Gas Prices on the Brink of Stabilizing?
Here’s a chart based on the weekly gasoline price update from the Department of Energy with an overlay of Light Crude. West Texas Light Crude, at 102.67, is off the 105.82 interim high set two weeks ago, and gasoline prices at the pump are approximately the same as last week. Year-to-date, regular has risen 51 cents and remains above the $3.50 pain threshold. As I write this, GasBuddy.com shows a Hawaii average of $4.11 for regular, (the nation’s high), with California close behind at $3.95.
The price increases in crude oil and gasoline were reflected in the latest Consumer Price Index data for February.
Doug Short Ph.d is the author of dshort.com.