Thursday, April 20, 2006

Gas prices heading north!

Back in mid-September of last year, in
issue #15 of Petey’s Pipeline E-zine, I stated unequivocally that gasoline prices would turn upward in the spring of this year, eventually hitting $3.50 per gallon before Labor Day. How prophetic is that?

Yesterday, crude oil closed at a record high $74 per barrel, ratcheting gasoline prices closer toward $3.00 per gallon – to about where they were in the days immediately following Katrina. Last year, gas prices topped $3.00 per gallon before settling back into the $2.20—2.30 range. Now, prices are on the move again, and the direction they’re heading is north.

Not to worry, though. Summer is still two months off, and Labor Day nearly two-and-a-half months beyond that –- plenty of time for my prediction to come true.

In fact, I’m so confident about my gas price prediction that I’m going to make a couple more. Quite a few people are going to cancel or change vacation plans, this year, and quite a few are going to get reacquainted with walking and/or their bikes. But, hey! Walking isn’t so bad. After awhile, you get used to it. And bike riding? Well, that's just plain fun.

In case you’re wondering why I’m sounding so smug about this, it’s because I sold my car nearly five years ago. No more $300 per month car payments, no more $60 per month insurance payments, no more rush hour frustration, no more gas pump blues.

I’m feeling good about higher gas prices. Are you?