Watch out! Gas prices could be jumping in Fort Wayne! Warn your friends. Forward this email.
After watching gasoline prices fall nicely on futures markets, we saw a large increase today, brought on by a reversal in thinking about European debt. There was some relief that Europe would be able to fix it’s problems, meaning that the economy there may grow, fueling speculation that the U.S. economy will slowly move forward as well. When economies improve, they generally use more petroleum, supporting higher prices. We calculate after today’s large wholesale price increase that prices in Fort Wayne may rise to $3.39-$3.55 in the next 12-48 hours. We calculate the odds of a hike occurring as forecast at 85%. Beware!
The Gasbuddy Team