Cheap gas...for now
Enjoy the "low" gas prices while they last, says oil expert Tom Kloza. He predicts pump prices will keep falling until Superbowl Sunday. "But like my beloved Giants, I would urge you to enjoy the run while it lasts. The pleasant times could persist for weeks, but I fear it will end badly." Expect the crap to hit the fan in February or March. Last year we hit the bottom on Jan 29, at $2.143/gallon, then steadily fattened up by 50% to hit a high of $3.21/gallon by Memorial Day weekend, Kloza said.
There is hope, if only in the short term. We may see prices fall below $3/gallon if we shop around and buy from off-brands. My Momma told me...to check LosAngelesGasPrices.com to find cheap gas.
Just to be safe, Kloza throws in this caveat: "I’m not an economist (although I occasionally play one on TV) but as far as fuel prices go, I’m pretty confident. We’ll be back on the up ramp later this quarter, thanks to the typical manifestation of petronoia."
