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Senior Contributor

Crude Oil / Fuel Prices

Where are Crude Oil / Fuel Prices going?

Crude oil futures closed +3.51 (+6.46%) Friday. This was the biggest one day increase since December 1, when oil closed at $69.00 per barrel. It is now at $57.13 per barrel.

 

The last time fuel took a big dive was late 2008-early 2009. The dive ended above $40.00 per barrel.  WTI was $43.93. The cheapest gas I remember seeing was $1.339 per gallon in Lubbock, TX.

 

The last time oil was in the low $50’s per barrel was early 2009.

 

Most unleaded is still over $2.00 per gallon, but some areas are seeing fuel in the $1.90’s range.

 

So, are the bears ready to hibernate, or did they just take a one day nap?

 

 

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Honored Advisor

Re: Crude Oil / Fuel Prices

Assuming we will see some increase around holidays then the market sags some more... If not we should have locked some in this last week.

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