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GasBuddy.com’s Gregg Laskowski on the rising cost for consumers to fill up at the pump.
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Prices may be holding steady for now but a lot of people saying that gas prices could hit four bucks a gallon by Christmas.
That would take a lot of money out of holiday shopping budgets.
-- -- -- with -- -- is what this from gas but it dot com.
The greatest coming up shortly but company I wanna ask you Tracy gas prices it.
If -- -- -- four dollars it mean its interest in three dollars and nine innocent people than there -- -- policy to be a magical number not just economic economically but cycle on.
Which is totally psychologically could you almost feel like -- -- -- for icon off to the -- anything to happen after that it's that it's the unknown rate and Ford -- makes a big difference when someone like me fills up to three times a week sometimes.
Because of all the driving I do that hits at the end of the day.
We drive everywhere where Ireland and out there right now when -- gets over four dollars it starts to really affect human act -- -- the -- -- -- about 75 dollars to fill my tank and it was just I couldn't believe it and and literally changes the way I feel the rest of the even US I mean honestly come on -- I mean you guys that you have a lot of money here at top 1% I mean here.
Five cent cents a difference in gasoline -- -- your behavior.
But if you accumulate to mean it really doesn't mean does that affect me every single day it slowly but surely you feel the money got -- -- about what we've done -- -- -- -- that I don't have a look at what happened at the audacity.
Those hybrids right now no immediate affect everybody that affects clients -- -- the way we look at.
The things and you sit there you see that four dollars it just makes it stopped for a moment really take a break and it's been a little baffling because oil has been strong I mean we're we're at the look at we're not too far from a hundred bucks and we're kind of lucky.
To go to Black Friday -- gasoline I hate to say as cheap as it is because right historically that's still isn't cheap but admitted that it's it's going significantly higher from here I guarantee oil prices are gonna go higher and we're gonna see it start to affect what's gonna -- higher.
A demand round the world are we're gonna find that.
-- also have them settlements in Europe -- that none of that helps in oil production.
Have a look that's -- Greg without you we do have more from gas buddy dot com -- god the panel here seem to believe.
That gas prices are going higher it is an admirable -- -- is guaranteed it is Ed right.
Well.
I think he is right it is inevitable but I don't necessarily agree on the timing.
Were right about 330 for a gallon as a national average.
Last year just to give you an idea of what we've seen as an average over the past seven years on December 31.
The average price across the country was 305 a gallon.
And it went up 91 cents a gallon to the peak price that we saw this year back in May when it reached 396 a gallon.
That's actually been indicative of the seven year average which has is 93 cents a got a gallon from.
The floor December 31 two whatever that peak is in the following year.
So but with oil prices going up the way they have gone up in the momentum certainly still seem to be with oil and of course when it breaks through a hundred dollars who knows what penetrating may go on.
Does that eventually trickle down -- and could it.
It could we see a spike because -- it always feels like they go a lot faster -- they come down.
That's true and and certainly when we see.
-- we watch the oil futures prices that has that in effect immediately on the wholesale gasoline prices and very often as you said.
There's a gap between the time that wholesale prices decrease in the time that -- the price of the pump actually decreases.
But on the flip side when not wholesale prices increase we see the retail prices ramp up rapidly.
As there -- zero point on the upside we were talking about four dollars gasoline being something of them that this really.
This is strange when the 399.
People are okay but when they could they -- gas station and there's -- four dollar number -- -- handle.
It changes they're tired demeanor is that really true and and how big of an impact would -- have.
It's a significant milestone and you know wasn't too long ago that three dollars was that significant milestone now we're looking at three dollars like it's a bargain.
But four dollars is definitely psychological threshold.
That makes an awful lot of it's very upset and we've when we see that price on a everyday or every couple of days when we're going to fill up.
There right even guys like Ed who have Hummer limousine they get -- -- certainly see that thank like Greg we've.
But we appreciate it thought these.
