Why? It appears the market is now not so sure the economy is doing that well. Some analysts cite last weeks jump in first time unemployment claims, a highly volatile indicator that rarely moves markets. Others suggests the market for gasoline simply went up too fast in too short of a period of time.
The hedge funds that poured millions into the futures market in mid January, however, are looking at a handsome profit. Consumers, meanwhile, are looking at high gasoline prices, in what has become a winter tradition, along with Groundhog Day.
Story provided by ConsumerAffairs.