By the looks of things, the price of fuel is unlikely to rise much before the middle of May.
This is because the price of oil has not risen much, if at all, in the last week or two.
Consumption in the US is easing, but by the middle of May, the US 'driving season' starts, and that will trigger a rise in demand for gasoline. Hence the price will rise.
However, this may well be tempered by the apparent recession that the USA is going into. It may be a shallow one, but, a recession of sorts it is. This will bring down the value of the dollar, which will affect the petrol price downwards, unless of course, Greenspan cuts interest rates far enough to nullify the effect. either way, while the price of oil and petrol may move about, up and down, the overall effect will not be much, unless the OPEC cartel, decide to reduce supply even further.
Thanks for listening.
Kevin
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