Actionable news
0
All posts from Actionable news
Actionable news in QQQ: PowerShares QQQ Trust, Series 1,

GasBuddy Issues "Sticker Shock" Warning: Motorists Will Spend $52 Billion More At The Pump In 2017

The price of oil has surged, which has pushed the market higher, and generated a healthy wealth effect for those who have equity exposure. And now it's time for the hangover. As GasBuddy warns in its 2017 Fuel Price Outlook, motorists are about get some sticker shock in 2017 and will shell out $52 billion more over the course of the year compared to 2016 as the national yearly average rises to $2.49 per gallon.

Aside from gasoline prices that are forecast to be higher than 2016, highlights include:

  • $355 billion will be spent on gasoline in the U.S. over the course of the year, $52 billion more than last year. That’s a considerable jump given that motorists saved $39 billion on gasoline in 2016 versus 2015.
  • The seasonal switch from ‘winter-blend’ to ‘summer-blend’ as mandated by EPA and the Clean Air Act will bring a spike at...

More