Way back in August 2003, Roy wrote in the LR, “I think the best predictor of gasoline prices is the media.” He explained that invariably when the media finally noticed an increase in the (pump) price of gasoline, it would begin falling within the next couple of days.
This morning the radio news reported ominously that gas prices are rising in Raleigh. I found that interesting because as of this morning, at the pumps I monitor (So. Saunders at I-40), the average price had already fallen by five cents per gallon since Thursday. The reason for that is, gasoline futures prices (one-month delivery) have been falling for over a week now ? they’re down 12 cents since last Monday (closing at $1.5269 today on the NYMEX).
