I just won a personal bet with family members considering Texas Gas Prices for January. I told them that prices would go up by .25 to .50 cents per gallon since Christmas. They did not believe me.
I must admit, I had some "insider" knowledge after working in the Oilfield Business. The price you see at the pump TODAY is because of what happened 6 months ago. What happened in the past 6 months? Well, a not so little Storm call Harvey hit the largest National Oil Refinery Region. Add to that the result would be around the mid winter time of the year, where refineries shift from 85%+ gas production to heating petroleum production, anyone who got in the Oil Futures made a fortune.