FYI: After an increase of more than 17% in the month of February, there was a lot of chatter among investors that the reversal in gas prices was going to run straight through March, acting as a headwind for the US consumer and consumer related stocks. Thankfully, that sustained pickup in prices failed to materialize and gas prices have essentially been flat since the start of March. What makes the lack of a follow through in gas prices even more notable is the fact that March is seasonally a strong month of the year for gas prices. In each prior March since 2004, the national average price of a gallon of gas has risen ten out of eleven times for an average gain of 6.2%. The only year where gas prices fell in March was 2013.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/gas-prices-stop-rising/Where I live, the southern suburbs of Chicago, the price has gone from around $2.05 at the beginning of March to $2.78 as of yesterday.
