Friday, June 29, 2012
Oil prices up, how long before gas follows suit?
I just heard Brian Williams say that the price of a barrel of oil was up more than 9 % today. It was the single-day biggest increase of the year. Apparently there was some sort of deal brokered by the European banks or something and that was what reportedly lead to the spiking of oil prices.
Just yesterday, I got some gas at the HEB on Saunders at $3.07 a gallon. I've noticed that when oil prices go down, gasoline prices are slow to follow, but when the opposite is true, then gas prices jumped overnight, if not the same day.
Maybe it won't affect prices that much, but I'm sure the oil & gas companies won't let such an opportunity go to waste. Dust off your yonkas and get them ready.