The going rate for regular gasoline in my part of Florida was $1.96 a gallon yesterday, Dec. 30, the penultimate day of 2018. And the temperature today, New Year’s Eve, 80 degrees, bright sunshine, delightful. Cheap gas, sunshine, just another day in paradise. Lest you become too envious, New Year’s Day will be only about 76 degrees, followed by a week or more of moderate or falling temperatures.
Seven-Eleven, WaWa, branded stations, all $1.96. A few holdouts were trying for $1.97 or $1.98; probably didn’t have an employee available to change the price.
(Explanation: The average gas station is fully automated. One human cashier for the impoverished or simply backward customers who don’t have credit or debit cards. The convenience stores have two or three other workers, but they’re making coffee or fast food. They have nothing to do with the gasoline pumps. So what’s the point? Automation and resulting human unemployment is one reason the price of gas is what it is.)
Then late yesterday evening, I saw a $1.94 !! sign at a Citgo station! And, I spotted a lone Sunoco station still stuck at $2.01. Maybe that station is closed? Maybe it’s been abandoned?
Let the record show that all gas prices have that nine-tenths of one cent tacked on at the end. It’s a strange and antiquated marketing custom of the gasoline business. Bamboozling the customer out of an extra nine-tenths of a penny? People have long internalized the ploy. The extra nine-tenths cent has been on gas station signs since at least my childhood, and that’s more than a half-century ago. So, for the unsuspecting reader from some faraway land, such as Antarctica or Pluto, let it be clear. Yesterday’s $1.96 gas was really a fraction of a penny less than $1.97. And who cares?
Who knows what the price is today, the final day of 2018? Not me. I haven’t been out yet, but I’ll update this post later. It’s probably lower. Since about Christmas, the price of gas has been falling about a penny a day. At this rate, we’ll have $1.50 gas by spring. That is, $1.50 gas, BUT ONLY IF prices go in a straight line. Few trends ever follow a straight line. But you knew that.
Will the stock market follow gas prices? Despite the ceremonial wailing and gnashing of teeth by the wealthy class, who tend to be more emotional about money than, say, poor people, there remains a whole lot of profit available for the taking in the stock market when it reopens on Jan. 2, 2019.
All the profit that was in the stock market on the first day of 2018 is STILL THERE. Everything that happened in 2018 was fluctuation. Up-up-up, and, down-down-down. Turn around, and repeat. Other words, 2018 was a wash, a big NOTHING. The test is yet to come.
So stock market 2019? Can you say profit-taking? Maybe. Or maybe, more inflation of the bubble? Time will tell.
Meanwhile, who wants to bet that the price of gas will be lower on the first day of 2019 than the final day of 2018? I predict gas will hit $1.90, at least, before it goes back up. But my predictions are worth not even nine-tenths of one penny.
Happy New Year to all, whatever it may bring,