Wednesday, October 06, 2004

Brace yourself for $3.00 gasoline!

With the presidential election less than a month away, let me go out on a limb and make a prediction. As I write this, crude oil prices have surpassed $53.00 per barrel after just hitting $40.00 a couple of months ago. Somehow, for the last few months, gasoline prices have remained relatively stable, despite having exhibited wild and rapid fluctuations tied to crude prices over the last year. My prediction is that no matter who wins the presidential election, come November 3rd, gasoline prices will rise rapidly and by the 10th of November, we will see gasoline prices around $2.50 per gallon which will rise to $3.00 per gallon for the travel season between Thanksgiving and New Year's Day. So, fill your vehicles and gas cans on November 1st for the last decent deal you'll get on gasoline in this country - you can thank me later.

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