U.S. average gasoline prices fell sharply for the week ended July 13, this time by 8 cents to an average of $2.53 per gallon. There was little news to support prices. US jobless claims rose again and the University of Michigan's measurement of consumer confidence in the economy showed another decline. These developments canceled any optimistic sentiment seen in earlier weeks. Basically, US demand for all fuels, as measured by the Deportment of Energy, is down and inventories are up. Analysts are saying there is no reason other than trading hysteria to support prices.
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July 14, 2009
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- Weatherstripping installed around our front and porch doors did a great job of cutting down on drafts. Click on the photo for a closer look.
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