It seems like every summer I write about the price of gasoline. It is no coincidence that the months when consumer demand is the highest see the highest prices for gasoline, but don’t blame the gas station owners or franchisees. Big Oil companies, Wall Street speculators, and middle eastern sheikdoms drive the price of oil.
Back in March oil was $37.00 a barrel. On Friday, June 5 it briefly touched $70 to drop a few pennies and settle around $69. Usually we talk about markets in terms of supply and demand. It’s true for stocks, bonds and most commodities, but not oil.