It is my opinion is that, It shows a strong possibility that this will happen before Sept. 21st
This proposition will pay off at POP$100 per share if the American Automobile Association's California unleaded average price for a regular gallon of gasoline equals or surpasses $5 a gallon at any time before September 21, 2008.
Here's the link to California average gas prices:
http://www.fuelgaugereport.com/CAavg.asp
Currently It is at $4.56-4 , Yesterday's was at $4.53-9
(the - before the last number to signify a tenth of a cent)
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Sat,June 14th Avg price is $4.58-7
on Sunday the price was $4.59-7
on Monday ,the price is $4.60
It wouldn't surprise me. I saw gas at the cheapest Costco in the area at $4.45 today. It's been going up there between 15 to 20 cents a week. I think it will slow down... but if there are any supply disruptions we'll definitely hit $5 / gallon gas.
Interesting, Gas average price 2 days ago was $4.61, and yesterday's average was $4.60-9
a very slight drop
continues to drop but very slowly:
at the last price check it was at $4.60-9
then $4.60-7
then $4.60-6
then $4.60-5 which is the yesterday's avg.
With a few holidays coming up and it being summer already, I wouldn't be surprised to see the gas go up to 5$ avg...despite the few decreases we have seen already.
Oil has been hitting new highs this week, and the gas price always follows within a week or two. I'm not sure that gas will hit $5 this summer, but it will probably get close. Look for oil to hit a new high again tomorrow when interest rates will likely rise in Europe (pushing the dollar lower).
Gas has been trending down for weeks in CA.
Gas has a psuedo-surplus due to declining demand, but demand for Crude is up as demand in China doubles every 3 months or so. $5 buck will happen, but probably not before the prop deadline.
ejcassel
http://www.ppxchat.com