Friday, January 27, 2012

Gasoline Futures are on the move, again!

On Dec 29 I filled my gas tank at just below $3 per gallon. I immediately thought that I would not see that price for a long time.

Today RBOB futures have reached 5-month high, on supply worries due to various refinery troubles and closures.

Technicals are confirming a possible move to $4 in the next few months. This will not bode well for U.S. GDP, which is 70% comprised of consumer spending.

click on chart to enlarge

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