I saw $3.999 at a station in Blue Ash tonight, and much of Mason is at $3.959.
During the past few hours in Greater Cincinnati, there’s been a virtual stampede to $3.999 (the average is still $3.86, but it’s trending upward):
If it’s not an isolated blip — and it sure doesn’t seem like it — this is very different from last year, on two levels:
- If the average hits $4 in the next several days, it will come about a month earlier than it did last year (when $4 sightings commenced on about April 25), and as noted after the employment report earlier this month, it comes at peak on-the-ground hiring time.
- It comes while demand is already unusually low (and it has been for some time).
Thus, it doesn’t seem like there’s a lot of potential for a big pullback, and reason to be quite concerned that we’ve only just begun to see gas prices bust through all previous records — and then some.
As I said last year in introducing the very same video which follows — “One may question how much responsibility Obama’s administration has for current prices — I maintain that it’s more than minor — but no one can question whether he believes that $4 and higher gas is inherently desirable. He does, and it’s not arguable”:
UPDATE, March 21, 10:30 a.m.: The Cincy area average is up to $3.91. That’s five cents in 10 hours. The Ohio average is over $3.94.