2007-05-14 Gasoline High
- Gasoline hits record $3.10 a gallon - The latest pump price tops the old record of $3.07 set in September 2005 after Hurricane Katrina. Although gasoline is inelsatic in terms of demand, there comes to a point where profits are crimped, thereby affecting the economy. People are less likely to spend their disposable income, which could result in a negative cycle.
- Has the stock price of Petro companies been positively affected? Looking at Petro-Canada, nearing a 52-wk High.
