I think the best predictor of gasoline prices in the media. It seems to go like clockwork. Within a few days of the media finally noticing a price spike and running stories about how prices have gone up and are likely to be over $2.00 a gallon by some future date, they inevitably begin to fall. Since late last week the news has been full of gloom and doom stories about the price of gasoline. We have heard that these are the highest prices ever, which is definitely not even close to true in inflation adjusted terms. The point is that on the trip I just took down route 401 south of the beltline in Raleigh, the price of gas was down anywhere from 2 to 3 cents a gallon. We’ll see if the pattern holds.
by Locker Room contributor