Tuesday, January 27, 2015

US Gas Prices End Their Record-Breaking Streak of Daily Declines

For the first time in four months, gasoline climbed in price today.

The national average price for a gallon of regular gas was $2.038 on Tuesday, up from $2.033 on Monday, according to auto club AAA. That half-cent increase was the first overnight price rise since Sept. 25 and ended the longest streak of daily price declines on record.

This is not necessarily the end to the decline in gasoline prices, however, I do expect price to bottom out and rebound at some point in 2015.

In other words, don't go out and buy a gas guzzler with the idea that gasoline price will be low for the long term. They won't be. In fact, in the EPJ Daily Alert I am recommending the accumulation of oil stocks at current levels.


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