Gas price velocity is highly asymmetric. It goes up fast, comes down slow. My uncle is in town and we used the Gas Buddy app to predict the cheapest gas in the area -- Camel Rock at $3.28 on Tuesday. Ironically, we were on our way to pick up a beater '00 Insight that I had snagged via Craigslist.
Seen some pretty wild price swings lately. Passing through Carrollton, KY on the way to Autobeyours, I saw as low as $3.29 a gallon for regular. Just 10 minutes away in Indiana it was $3.85 everywhere.
Crude Oil Surges above $110 on Explosion Report: News Headlines It was on the front page of CNBC as breaking news when I posted the above. Now the CNBC's breaking news is "Saudi Oil Officials Say Reports of Pipeline Attack Are Untrue (Click for the latest oil prices)".
lol it's like 2008 again it's really funny to watch. More funny than last time, since at least one of my cars is a hybrid this time
It depends. It can go up fast and down slow, but it can also do the opposite. Currently, how quickly prices will go up/down depends on how many refineries can come up in the next month or two.