Well, perhaps it's happened - The peaking of fuel prices.
As of about 4pm EST, "Light, sweet crude for September delivery fell $2.23 to settle at $123.26 a barrel in on the New York Mercantile Exchange. Earlier the contract dropped as far as $122.50, its lowest point since June 5." according to AP.
What were you doing on June 5th? My family was in the midst of a "family vacation" in California. Funny thing was, when we left the valley on June 1, fuel was still 3.89 a gallon and when we got back a week later, it had only risen to 3.93...Hmmmm
Its true - Idaho enjoyed some of the lowest prices in the region in June, as the convenience stores and stations held off as long as they could to post that big "4" number.
“People say typically prices shoot up like a rocket, fall like a feather. But this time ... it looks like it’s different,” AAA spokesman Geoff Sundstrom said. “The retail sector is interested in bringing these prices down as fast as they can to stimulate business in their convenience stores. "A gallon of gas now sells for $4.006, the first time it has been that low in nearly seven weeks," AAA reports. Sundstrom also said such a large decline indicates a deteriorating demand by the world’s thirstiest oil consumer. Retail prices have fallen about a dime per gallon in just the past week."
What is Pocatello missing here?? (Hooray for Smiths in Chubbuck - 4.03!!) But, there have been no other price drops that I know of...
Next time you purchase fuel, mention that we are now HIGHER than the National Average and ask why they are changing everywhere but here!! Even Boise has experienced a drop.
Makes you wonder...Hmmmmm
