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?