It’s always a relief when gas drops just a few cents but States across the country are seeing an average of 10¢ according to AAA. But how long will this last? One week? Two? One Month? Who knows at this point. What we can tell you is it wont last for long. Surprisingly the prices didn’t rise over the 4th of July weekend and that could be a sign of good fortune.
Speculators believe the price drop is due to the choice to fly greater distances and not travel shorter ones. TSA reported over 2 Million Screenings in just the last month alone. This is an awkward reading due to the fact June and July are two months with the highest demand for gas.
July just started so the demand has yet to take effect on the market but with more travel happening for vacations it will put a strain on the market. This will test it and you will see a flux in the gas prices again. Most likely breaking the 5$ mark in Florida. [Source Autoweek]
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Investor’s Edge with Gary Kaultbaum can be heard on weekdays on MoneyTalk 1010. Gary Kaltbaum is a registered investment advisor with more than 30 years of experience in the markets. He is the owner and President of Kaltbaum Capital Management, a financial investment advisory firm headquartered in Orlando, Florida. He is a Fox News Channel Business Contributor regularly appearing on Fox News Channel and the Fox Business Network. In addition, Gary is the author of the book “The Investors Edge” and the host of a nationally syndicated radio show with the same title, “Investors Edge,” broadcast on numerous stations across the U.S. The show is also available on-demand and airs live 6-7 pm EST Monday-Friday. You can hear past shows online at garykaltbaum.com.
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