October 22, 2006

...AND LOWER...:

U.S. gasoline prices dip to $2.20 a gallon (Reuters, 10/22/06)

The national retail average for self-serve, regular gas was $2.2012 a gallon on October 20, down about 7.79 cents per gallon in the past two weeks, according to the nationwide Lundberg survey of about 6,000 gas stations. [...]

"These latest two weeks (gasoline price declines) come nearly entirely from more crude on the market than the market requires," said survey editor Trilby Lundberg.


If it's really falling just on fundamentals and the speculators haven't been cleared out yet then there's a much steeper decline to follow.

Posted by Orrin Judd at October 22, 2006 7:52 PM
Comments

Lundberg's a hack, who doesn't know much from anything and lucked into a market opportunity.

I wish I were her.

Posted by: jsmith at October 23, 2006 12:03 AM
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