Last week I put gas in my wife’s car. When I swiped her card, it asked me for my social security number. I entered it and about 30 seconds later, it said my loan had been approved.
The increase in gas prices over the July 4th weekend was the highest since 2008.
Prices at the pump averaged $3.68 per gallon for regular, which was a pretty dramatic increase from last year but not even close to the all-time record of $4.11 just after July 4, 2008.
You know gas prices are high when you see stations in the spring, with signs reading, “Spend your tax refund here”!
Rising crude oil prices have been the culprit, primarily due to continued fears of political unrest in Iraq, that Iraqi oil exports will be drastically reduced if violence spreads. We need to send Obi Wan Kanobe to hypnotize OPEC so they’ll calm down.
Hopefully, gas prices may be near their 2014 peak. Consumer watchdog, gasbuddy.com, expects a peak at $3.75.
Even though prices have risen as consumption has increased so far this summer, the average gas price for the first half of 2014 is expected to average $3.52 a gallon, a decline of 5 cents from the first half of 2013 and 12 cents cheaper than the first six months of 2012.
Then, you throw in the hurricane wild card and all of this speculation gets tossed out the window. The truth is, we can speculate all we want to, but the price will be the price, regardless of why.
My advice? When prices are rising, fill your tank, because you might have to pay more tomorrow. When they are dropping, put no more than $10 in the tank because you might save money tomorrow.
Affordable electronic cars, where are you?
See you tomorrow.
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