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National average price is $3.13 per gallon. $0.74/gallon higher than last year at this time.
The good news: gasoline inventories are 12 million barrels higher than this time last year and almost 8% above the 5-year average.
The bad news: crude is $40/barrel higher right now than last year at this time.
Expect national retail averages in the $3.50 to $3.75 range, with spot prices well above $4.00 in the usual locations, by March/April, IMO, unless crude drops significantly.
On the plus side, we dropped gasoline demand by 1.1% over the last four week period. That doesn't sound like much, but it is.
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I think the young people enjoy it when I "get down," verbally, don't you?
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