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Let’s all collectively do a real time experiment regarding my recent post/rant about the price of gas. Facts :
1) Israel attacked Iran last night.
2) Refineries were NOT hit.
3) The Strait of Hormuz remains open
4) according to Google, it takes about 5-7 weeks for oil from the Middle East to arrive in the US
5) as I write this, the price of oil has gone up 8.67 % since yesterday.
How long will it take, and by how much, for the price of gas at the pump go up near you ?
Update: most gas in my area has gone up from $2.80 something to $2.99. B.J.s is still cheapest, but $2.78 instead of $2.59.
While I understand this is an important issue for many folks, I don’t spend time on what I can’t control including the price of gas. It goes up and it does down.
“May inflation numbers showed that consumer prices rose by just 0.1% in May compared to the previous month, less than economists had anticipated. “
Ever the face of irrelevance, Newsweek has published a map this week of the safest places in the US in the event of Nuclear Attack. Thank You MSM for this timely and comforting news! With the latest iteration of war in the Middle East our retirement portfolios have declined in value 0.57%. My Net Worth is 2.03% below the all-time high set in 2021. The end is nigh!
On a side note, the price of eggs have been falling, too. Some stores do restrict purchases to one carton, 12 or 18 eggs.