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Summer Driving Season

I saw a great article this weekend on the start of the summer driving season. AP Energy Writer Jonathan Fahey really nails it with this summary:

Our rants about gasoline and the oil industry may not always be based on facts, but one thing is undeniable: Americans are obsessed with the price of gasoline. More than any other good or service we buy.
In the language of economists, the price of gasoline is “salient.” That means it sticks in our brains. Here’s why:
We’re reminded of the price every time we pass a gas station and see those huge, numbered signs. We buy gas every week, unlike bills we pay monthly or a couple times a year. Milk is $4 a gallon, but we buy only one. When we fill up with gas, we spend $50 or more.
And the biggest frustration, which comes into focus as the numbers spin ever higher at the pump: There is no alternative.

The whole article is well worth reading.

It is an interesting time, with several factors in play:

1) Summer driving season has this on people’s minds;
2) Risk is still high;
3) Prices have eased.

This is a great time to think about locking in prices — if you have the ability to do so.

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