Thursday, August 11, 2011

Gasoline Prices expected to decline sharply

by Bill McBride on 8/11/2011 10:52:00 PM

Since I haven't posted on gasoline prices in some time ... from Ronald White at the LA Times: Gas prices expected to fall

"If oil remains low, the national average for gasoline will fall to $3.25 to $3.40 in the next two to three weeks as retailers slowly lower their prices to reflect their drop in cost," said Patrick DeHaan, senior energy analyst for GasBuddy.com, a website that lists retail gasoline prices.
Another price decline would be good news, but it just takes us back close to the late February and early March levels - and March is when Personal Consumption Expenditure (PCE) growth slowed, and consumer sentiment fell sharply.


Orange County Historical Gas Price Charts Provided by GasBuddy.com