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Strategies & Market Trends : News Links and Chart Links
SPXL 223.55+0.3%Dec 4 4:00 PM EST
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To: Les H who wrote (17534)8/14/2009 10:20:10 AM
From: Les H  Read Replies (1) of 29601
 
COTD - Gasoline

One positive outcome of the financial crisis was that gasoline prices did plunge from their record highs – down 60% peak to trough. Beginning at the end of 2008, however, gasoline prices have surged and are currently 61% above their December 2008 lows. Today’s chart provides some perspective on the recent spike with a long-term view of the average US price for a gallon of unleaded gasoline. It is interesting to note that most gasoline price spikes were a result of Middle East crises and often preceded or coincided with a US recession. So while gasoline prices are currently well below the record high levels of 2007, this recent rally has brought prices to a level well above what was witnessed from 1984-2004 – a two decade span of relative energy price stability.

chartoftheday.com
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