Meadville Tribune

Local News

February 7, 2013

Gasoline prices surge for third straight winter

(Continued)

Why? It appears the market is now not so sure the economy is doing that well. Some analysts cite last weeks jump in first time unemployment claims, a highly volatile indicator that rarely moves markets. Others suggests the market for gasoline simply went up too fast in too short of a period of time.

The hedge funds that poured millions into the futures market in mid January, however, are looking at a handsome profit. Consumers, meanwhile, are looking at high gasoline prices, in what has become a winter tradition, along with Groundhog Day.

Story provided by ConsumerAffairs.

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