With the precipitous drop in the commodities futures gasoline had fallen to any where from $3.82 to $4.10 in the general area around me.
Those investing in gasoline futures expect the price to rise by around 30 cents a gallon because of the floding along the ohio and mississippi rivers and their tributaries.
After falling to #3.79 in my community over the last few weeks it spiked today to $4.00 with the exception of one independent station which has held the old price for about 20 hours now.
It would be nice to return to the "gas wars" of the late 50's and early 60's!
Gasoline dropped to $3.63 with news of the 30 million barrels of crude released from our strategic reserve but went back up to $3.46 the next day. Crude dipped briefly and went back up too.
We have tankers waiting off shore to unload and we are paying demurrage while they wait. Our problem is not a shortage, but people are not buying.