Gas Prices Hit 13-Month Highs, Prompt Macro Concerns

zero hedge ^ | 4/20/14 | tyler durden

[Nachum]

At $3.67, US Regular gasoline prices are their highest since March 2013 having risen over 12% (40c) in the last 2 months. This must be great news, right? It must mean world demand is picking up and driving up prices of crude oil as global trade soars (amid a collapsing Baltic Dry and decelerating Chinese growth). This can't be related to "war premia" right? - as we noted here - because stocks (which always know best) have discounted all this tomfoolery. However, as the following chart shows, each time gas prices have surged up toards the Maginot Line of $3.80, US macro-economic fundamentals have collapsed... the only problem is, this time is different - because macro data is already weak going in (and expectations for the post-weather pop are high).

[freeangel]

“Obamanomics “

Yep! He even said that was his plan on the campaign trail. It will hurt the most people who can least afford it. Oh well, the IDIOTS voted for him.

[Nowhere Man]

My wife said she read where more people are taking what they’re calling “Stay-cations”. In other words, closer to home.

We were talking about that at work too. Either that or short trips within a few hour's drive. I used to drive a 1999 Chevy Blazer but now have a 2004 Hyundai Sonata (the Hyundai was Mom's car but I inherited it after my mother passed away a week before last Thanksgiving) and it is easier on gas but there are still weeks I'm lucky to keep a quarter of a tank.

[ErnBatavia]

$4.37 here in the Coachella Valley.

[Zuse]

I seem to remember Pelosi warning us that if the Republicans won the 2006 Congressional elections that Bush/Cheney/Halliburton/Cronies would boost gasoline prices to $2 per gallon. So great we dodged that one!

Sometimes I get the impression that the Saudis are paying off the greenie/watermelon environmental groups to stop domestic production.

[ronnyquest]

Find it here, extract it here, refine it here, distribute it here, keep the profits here.

[Oshkalaboomboom]

Premium was selling for $4.37 last night in the Clairemont area of San Diego.

Aren't those high price mainly caused by Californian politicians? I realize that it's tough to outgoofy the Obama administration but California manages to pull it off on so many fronts he should go there for lessons on how to wreck an economy.

[upchuck]

Here in Aiken County, SC, we got a new Sam’s Club awhile back. Competition drove the price of gas to as low as $2.95.

But now that’s over and we’re being ripped off again. Last price I saw when I was in town the other day: $3.37 at Wal*Mart. Sunoco station on the other side of town was $3.53.

[jacknhoo]

$3.69 in Woodstock, GA...40 minutes north of Atlanta.

[pallis]

Obamagas redistributes the working poor to the welfare class.

[Theoria]

The Dow was around 8,000 as well. If ya really want cheap gas, the stock market can crash and the economy can be made even worse.

[Iron Munro]

It's never a good idea to use the word "high" in Obamaland.

[OrioleFan]

And the CPI trends is...

source: BLS

[Diana in Wisconsin]

“What bothers me is that people don’t seem to be talking about these hard economic times. They seem to be doing what they would normally do in life. Just weird.”

Two thoughts on that:

1. There’s been such a HUGE increase in people on the dole these past five years - and they lack for NOTHING - so why should they complain about the economy? Their bills are covered. By you and me. Yippee!

2. The rest of us are so beaten down, we are in Hunker Down Mode, working like little ants, saving our pennies and stockpiling for what we KNOW is coming. We’re keeping our mouths shut, too! I’m HARDLY going to ANNOUNCE that due to the ECONOMY, I now have 6 months worth of food and water stashed - so someone can come steal if from me.

Just my take. And, yes. I AM prepared. And Good Luck to someone who tries to mess with me and mine. :)

Just filled up the truck on the return trip from Easter Dinner with family. Back up to $50 for a full tank.

Happy Days ARE Here Again! The Skies Above Are Clear Again!

*ROLLEYES*

[elpadre]

“..Find it here, extract it here, refine it here, distribute ...”

Well, that much is happening in North America now - in spades. It seems the more we find, refine and distribute - the higher the price. There is nothing about this program it can be called supply-demand.

[mylife]

Agreed.

[VerySadAmerican]

We just had a little picnic at Stephen F. Austin State Park just outside Sealy, Texas. That’s a really nice park and I was surprised at the size.

[PeterPrinciple]

“What bothers me is that people don’t seem to be talking about these hard economic times. They seem to be doing what they would normally do in life. Just weird.”

---

I was in Mongolia a couple years after the demise of the Soviet Union. I visited one of the centralized state run farms and stood in a cavernous farm building, it was stripped. I imagined what it was like. The phone rang in the main office and upper mgt grabbed the cash, liquid assets and fancy cars. Middle mgt got the idea and took the breeding livestock and machinery. Workers then figured it out and grabbed what ever they could. My eyes finally fell on the manure chain at my feet. It was still there and full of manure. NOBODY RAN THE MANURE CHAIN THE LAST TIME, it happened that fast.

It will be business as usual up to the last minute. I think it says something like that in the Bible.............

[jughandle]

https://vine.co/v/M1HzDDOQnda

[gibsosa]

Cuz the propaganda machines (the shill for commies media we have) have not told them to think about it, much less scream about it. (no republican in the white house, all is well)

[GOPJ]

Gas was $1.71 when Obama took office in 2008. Today it’s $3.67.... And we’re told there’s no inflation...