Retail gas prices spike, but demand doesn't
At the retail level, the price for a gallon of regular gasoline stood at a fresh record of $3.196 on Monday, up from Sunday's $3.178 and 11.8% higher than a month ago, according to AAA's Daily Fuel Gauge Report. See the data.
The gasoline market saw "disappointing sales over the weekend," said John Person, president of NationalFutures.com. "Many motorists stayed in rather than fill up at the pumps," with the national price average apparently having a "profound effect on consumers."
Person's also anticipating "a surprise over the holiday weekend with demand on the decline," adding in e-mailed comments: "I also expect to see a big build in gasoline stocks as two refineries are up and running capacity should increase to 90.2% -- and we should see another build in crude inventories."
"These factors may take the bit out of prices in the next few weeks, unless a major event such as a hurricane causes a massive nationwide supply disruption, which would create a shortage of inventories at the pumps," he said.
So for now, "the fate of continued higher gasoline prices at the pumps will be dictated by the consumer," Person said.
This run up will break the economy this time. The first Hurricaine in the Gulf and IF there would be damage then you could see major shortages and prices that people could not pay. But the article is odd, demand is well DOWN but prices still rise.The car stayed home this weekend. Took the train not the car to charlotte. Were gonna go to wilmington this weekend and have decided to stay up here in Raleigh and do local things.
Lets see I will have saved over 800 miles of driving.
Oh can you imagine what gasoline lines would look like in 2007? I mean americans are well spoiled mean and loaded for bear!
![:-\](https://www.early-retirement.org/sk/forums/images/smilies/undecided.gif "Undecided :-\")
