Be Careful What QE You Wish For #2467: Gas Prices Surging Again

via: ZeroHedge
by: Tyler Durden
August 8, 2012

Tyler Durden's picture

After a drop of more than 20% from late April to mid June in wholesale gasoline prices which was heralded as the great savior of a slowing global economy – all those implicit tax cuts… the hopes and dreams of the next great unsterilized money-printing has not only floated equity asset valuations to near multi-year highs but energy prices across Europe and the US are soaring once again. This ‘transitory’ 25% surge in wholesale gasoline prices in the US in the last two months – now back above $3/gallon implies (given the lag in transmission) that retail gas prices (which historically peak around July 4th) are set to rise notably above last year’s summer peak – back up near record highs and eating into that ever so happy to spend consumer’s pocketbook once again. Meanwhile, Europeans are seeing near-record highs in retail gas prices once again andBrent priced in EUR (which remember is what they ‘care’ about) is now back above 2008 highs and within a few euros of all-time record highs – up almost 30% since Mid-June. Deflationary? Recessionary?

US Crude, Wholesale Gasoline, and Retail Gas Prices are charging higher…

Continue Reading At: ZeroHedge.com

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