Were gas prices manipulated?
Posted on Mon Nov 13, 2006 at 09:12:02 PM EST
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There was more than a little back and forth before the election on the mysterious decline in gas prices. No-lead went from close to $3 down to close to $2, in the course of just a few months. No new huge discoveries, no new technology making gas easier, cheaper or more abundant, no decline in demand. No nothing. Just cheaper.
Monday, 11/6: 1.919
Tuesday, 11/7: 1.919
Thursday, 11/9: 1.949
Saturday, 11/11: 1.969
Monday, 11/13: 2.049
And, everywhere else, the price is rising, too.
The 1.919 on 11/6 had been there for a few days. In the two or so weeks prior, the price had gone down to 1.929, up to 1.969, and then back down to 1.919. In other words, a classic double bottom, for those inclined to make technical analysis charts.
Which means, prices are going up.
I'll go out on a limb, and predict we'll see $2.50 a gallon at the place I track, by spring. And, I'll put a poll below, for those of you who care to bet for or against my prediction. No rewards, just the satisfaction of knowing your prediction was right (or wrong).
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