High fuel prices inspire another summer of staycations

This report was sent to subscribers on April 20, 2011.  Join our free mailing list to receive actionable SIR information 48 hours before it is posted for the public… EXECUTIVE SUMMARY:

Traditionally, gas prices have risen in the spring and peaked during the high-demand summer months. Last year, though, prices spiked starting in February and reached their highs in early May, before declining slightly in summer. Has a new seasonal pattern been established? The only real “pattern” here seems to be the absence of one that motorists can predictably rely on. Gas prices usually fall in February. But prices at the pump rose in February 2012, and did so again in February 2013.

Traditionally, gas prices have risen in the spring and peaked during the high-demand summer months. Last year, though, prices spiked starting in February and reached their highs in early May, before declining slightly in summer. Has a new seasonal pattern been established? The only real “pattern” here seems to be the absence of one that motorists can predictably rely on. Gas prices usually fall in February. But prices at the pump rose in February 2012, and did so again in February 2013.

Petrol prices have started to fall but still remain high enough to influence the actions of consumers.

Here's why I believe that the current high price of oil is not enough to derail the U.S. economic recovery.

Will the average family have anything left to spend on extras?  For many, the return of the 2 percent payroll tax was enough of a setback.  Now, with gas topping $4 a gallon in some areas, consumers are scrambling to pay the pump...and the rest of their bills. 

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