AAA reports July 4th Gas Prices were Lowest in Eleven Years
July 6, 2016
Tampa, FL – AAA forecasted that a record-breaking 36.3 million Americans would take an Independence Day road trip this weekend. Those who did, found the lowest gas prices on July 4th in 11 years.
“Despite the high demand, gas prices declined throughout the holiday weekend making travel even more affordable,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.
2016 Independence Day Gas Prices
Clarksville Weekly Market Snapshot from Frazier Allen for the week of July 6th, 2016
July 6, 2016
Clarksville, TN – Despite there being no plan for Brexit and expectations of a lengthy and uncertain process of disentanglement from the European Union, stock market fear subsided.
The impact on the U.S. economy of a weaker U.K. is expected to be small, and in some ways may even be positive (lower mortgage rates and greater capital flows to the U.S.). Long-term interest rates remain low.
Bank of England Governor Carney helped things along by suggesting that a rate cut would likely be warranted this summer (the BoE’s Monetary Policy Committee will meet on July 14th).
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of July 3rd, 2016
July 3, 2016
Clarksville, TN – U.S. financial markets spent most of the week pricing in a greater likelihood that the United Kingdom would vote to remain in the European Union.
Oops. The surprise “leave” victory in the U.K. referendum sent markets reeling. Global stock markets fell sharply. The pound plunged (to a 30-year low). Bond yields sank, reflecting a flight to safety.
Still, this wasn’t a Lehman-type event. Market participants were simply caught leaning the wrong way. Prime Minister Cameron resigned, effective October, leaving his predecessor a lengthy negotiation with the EU on exit terms.
Frazier Allen
AAA says “Brexit” leads to Lower Gas Prices
June 30, 2016
Tampa, FL – Britain’s vote to leave the European Union could impact Americans in a variety of ways; one of them could be lower gas prices. The price for crude oil, which is globally traded on the stock market, declined by nearly $2.50 the day after the “Brexit” vote.
Since two-thirds the price of gasoline is influenced by oil prices, this reduces the likelihood of gas prices rising in the near future.
Oil Prices Decline
