They (tm) have wanted oil prices to rise for the longest time. I don't know whether it's a petrodollar thing or one of Them having a bad investment in long-term oil holdings.(Putin? the Middle Eastern Royal Families?) If electricity keeps taking over transportation there's going to be a shakeup. I'm waiting for oil to stay steady for longer than six months. When it does I'll know someone's spending serious money to prop it up.
At any rate unless you have a 1000 gallon tank there's no point in filling up now. This is just a blip in a much more involved process.
Gas was $1.15 in 1990 and gold was ~$345. Today gold is $1800 so it follows that gas would be around $6. We're actually doing well, considering.
And gold should be higher as well. There is a lot of pent-up inflation energy that hasn't been released.
Thanks, jews!
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