FYI: It’s been awhile since we last provided an update on national average gas prices, but recent trends are definitely worth highlighting. The table to the right shows the YTD change in gas prices based on AAA data this year and at the same point in each prior year dating back to 2005. With average prices at the pump down nearly 2% on the year, this is the first year where prices have actually been down YTD at this point in the year. This is a pretty big divergence from the overall average gain of 12.5% that is normal for this point in the year. Looking at the year by year returns, there has definitely been a trend in recent years where prices didn’t start off the year as strong as they have in the past, but this year’s decline is a bit extreme.
The chart below further illustrates this trend as it compares changes in prices YTD this year to a composite of the average YTD change for all prior years since 2005. By this point in the year, prices are typically already in rally mode leading up to the summer driving season. With oil prices weak this year, though, that seasonal lift has yet to materialize.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/gas-prices-sputtering-along/
