U.S. Crude has peaked in trading at $63.99 so far today. That makes for a 15% increase in crude over the last 2 months.
The Real Effect
Look for gas prices to continue to etch up in increments as the cost of crude explodes. Notice the $2.50+ per gallon costs? (I predicted it.)Also look for continued emphasis on the previous record in the 1980's being unmatched with inflation factored in. The message being that this is nothing compared to what it could potentially become.
(Note: I divided incorrectly on last week's crude update. The actual number is around 11% not 8%)
Edited for appearance and hyperlinks on 3/1/2010.
The Real Effect
Look for gas prices to continue to etch up in increments as the cost of crude explodes. Notice the $2.50+ per gallon costs? (I predicted it.)Also look for continued emphasis on the previous record in the 1980's being unmatched with inflation factored in. The message being that this is nothing compared to what it could potentially become.
(Note: I divided incorrectly on last week's crude update. The actual number is around 11% not 8%)
Edited for appearance and hyperlinks on 3/1/2010.
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