Gasoline Prices Are Going Up, Why…?
Crude oil prices and the calendar says James Hamilton. The calendar part of the answer is easy, we are approaching the “driving season” also known as summer. This is when families pack up stuff and drive for vacations. Even if it is just a weekend camping at the beech or something, gasoline demand goes up. As for crude oil prices they do not usually follow a seasonal pattern, but this year the prices have moved so as to reinforce the seasonal fluctuations in the demand for gasoline. Check out Prof. Hamilton’s post for more information and some helpful graphs.