Pennies From Heaven Exxon

There’s a gas station in my neighborhood that’s been lowering the price of gas in 2¢ increments every few days for the last week.

So, first the posted price was $3.89 per gallon, then it was $3.87, then $3.85, then $3.83.

Which is certainly interesting, given that the current price of a barrel of crude oil ($89) is dramatically lower than when prices at the pump briefly exceeded $4 a gallon, what, a year ago?

I don’t know where gas prices are headed, but I do know this:  if there’s another Deepwater Horizon “event,” or (new) political turmoil somewhere suddenly threatens supplies, prices at the pump are going to go up much faster — and in bigger increments — than when the wholesale price of oil was falling.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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