Gasoline prices (per AAA) rose from last report's $3.825, to $3.873. One year ago the price had fallen to $3.949, and was on its downward trajectory... into the early September lull, about $3.80. It rose a bit, then fell back to the December low.
Consumption slipped -0.3% week over week, and is +0.6% above year ago numbers. (This is a four week moving average).
Having completely missed the pump price direction the past couple of weeks... I'll avoid any predictions for the this. Although my tried and true method has suddenly gone awry.
One thing is almost certain... The August CPI report will bring added political scrutiny to the price of gasoline. So pick your favorite bogeyman... the Ukraine War, Putin, price gouging by the oil industry, refineries, and the list goes on.
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