The major retail gasoline outlets — SuperAmerica, BP, and Holiday — raised the price of gasoline to $2.19 today. That’s still way below what it was a year ago, of course, but it’s still a 16-percent increase in the last week.
Apparently, it’s the “optimism thing.”
“With the outlook for risky and pro-growth assets continuing to improve (particularly as U.S. equity markets turn positive for the year), we are growing more constructive on energy markets,” technical analysts at Barclays Capital told the Dow Jones Newswire. Translation: It’s a good time to raise prices and make some dough.
The Associated Press also reported that easing fears about the flu also have contributed to higher prices.
Was last week the last time we’ll see gasoline for under $2?