Sunday, May 6, 2018

Will Gasoline Prices Hit an All-Time High?

The chart above (via GasBuddy) shows the steady climb of oil prices since 2016.

The last time oil prices were at current levels of around $2.80 per gallon was in June of 2015.

I expect gasoline prices to continue to climb as crude oil prices climb. It is not out of the question that gasoline prices in the next year or two may eventually break the all-time high, which was hit before the 2008 financial crisis on July 16, 2008 of  $4.10 per gallon.

-Robert Wenzel  

1 comment:

  1. Earl Haehl says:

    A moderating factor is the upcoming election. The petroleum industry has a vested interest in incumbents they know. To the extent they can blame prices on Arabs, the companies will do that, but they have, as November approached, tried to keep some control.