Up, up, and away! $2.99 may be next.

Tuesday, March 16, 2010, 8:00 PM: Yes, it has been too long since my last post. My busyness continues, and then I traveled during my Spring Break last week. Looks like the “expect a hike” alert from 2/25 was right, because we have had two hikes since then, and I predict a nasty one coming up by the end of the week, perhaps all the way to $2.99. The culprits: the March switch-over to summer gas and, as I have been repeating over-and-over for a couple of years, now, the correlation between gas prices and the stock market. On 2/25/09, a gallon of gas was $1.71 in Standale, and the Dow was about to bottom out around 6600. Today, the Dow is heading towards 11,000, and gas is heading to $3 a gallon. I’d fill up Wednesday morning. — Ed Aboufadel

Updated: March 16, 2010 — 7:55 pm

2 Comments

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  1. 2.85 is already here in evansville, in. Some 2.63 and 2.85s mixed on the same street

  2. It’s insane for gas prices to be this high. We’ve had no hurricanes, there’s been no refinery fires, or terrorist attacks or any other of the usual excuses to raise gas prices so exorbantly high in an off season. Commodity traders are just full of greed and want to line their pockets with more bonus money so they purposely bid up the price of oil. Our country is still in an economic tailspin, millions unemployed, myself included, these higher prices will do nothing more than drive up the already high cost of living in every sector and facet of life!!!

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