Ouch

If you see the little oil price chart thingy on the right then I feel your pain. I have not seen movement like this since the internet boom in the latter half of the 1990's. It was pretty hard not to make money and the movements were strikingly similar.

If the price of oil keeps going like it has been we are gearing up for $150/barrel within the next month.

Gas is never too far behind in this. Although the prices move so fast you tend to forget whether gas has caught up or not. From my observation, and this is just a guess, but it seems to be that the price of gas is going up roughly $.05 per gallon with every $2 increase in the price of oil. The national average of $3.81 today was based on $128 and change....assuming we were caught up.

If my theory is correct then if the price closes above $131 then we should expect $3.86 in the very near term. Of course locally can be very different. We're heading back to northern NY Friday morning and the tank is full but as I told Shelly last week I would be very suprised if gas in Northern NY WASN'T above $4/gal.

Heating oil futures are now running almost $3.90 which means to top off your tank in the basement should be in the nieghborhood of $4.60???

Have you put down that gass guzzeling heavy duty truck or super sized SUV yet? Put a fork in her, she's done.

Green will be the next status symbol.