If ever a picture told a story...
No matter what curve fitting equation you use to project a trend; no matter what mental model you frame this chart with; no matter what your employer demands, you can see where this slippery slope is heading. Up.Price analysts and political appointees have no better grasp of what the future will bring (economically, personally, financially, culturally, politically or technically) than you or I do.
Professional expertise and credibility are nearly zeroed out.
After the summer driving season is over; and, after the sun sets on the vacations of those who could afford them, the price per gallon will go down a bit - most assuredly.
By winter, though, oil, the blood of our economy, could well continue it's upward price climb, making for a winter of cabin fever that may not well warm us.
By Spring, we will begin creating a new culture - not life designed by government, but a world where brave ideas will bring value to a government created by the people, for the people.
Happy Oil Independence Day. The best is yet to come.
Via:USEIA, Weekly US Retail Gasoline Prices, Regular Grade