Over the last week, prices have begun to head higher in much of the U.S., from an average of $2.46 to near $2.50 today. Last week featured higher wholesale gasoline prices as a result of a change in market sentiment. As prices have headed higher, they have seemingly ignored some traditional fundamentals like supply and demand, and have concentrated more on economic news and the U.S. dollar.
Message Posted: Nov 10, 2009 4:30:40 PM
Gasoline prices in Canada have risen has well, but at a slower pace. They currently stand at an average of 97.8c/L this morning but will also continue to rise for the same reason- a shift in trading sentiment. It would seem that gasoline and oil prices are almost completely tied to the stock market as of late; the stock market climbs and oil and ...
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