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Jul 14, 2009 - Settling Down

AR Index     518.47  +1.42  (+0.27%)

Stocks of individual interest
Toyota  74.59  -1.02
GM        1.15    +0.45
Ford      5.69    -0.06

Dow 8331.68  +6.81   (+0.08%)

The chart for the last three months looks fairly calm and steady. That's quite a switch from a year ago when gas prices had peaked in my area at $4.09/gallon (currently at $2.55 and falling) and crude oil was at $139/bbl (now at $59 and also dropping)

I saw that diesel fuel in California is less than half of it was in mid-July of 2008 and that has to please the trucking industry.

We still have a disconnect between the realities of supply and demand and prices at the pump, but the commodity market wasn't able to drive prices as high this year for some reason. Looking back, I'm starting to think that the whole gas price runup of 2008 was a major factor in the recession, outcome of the election, and other small items like pushing automotive manufacturers over the edge. I know our household cut back on a lot of driving and purchases to pay for the gas we needed. I'm sure you did too.

2:43 am | Categories: ar index Permalink | Alert Administrator

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