Gasoline Surge Above $3 May Fuel Reversion Toward $2 - The national average gasoline price has jumped above $3 a gallon on the back of the Iran war, which may fuel reversion toward $2 by year-end. My graphic highlights a top reason the gas price on March 13 is up slightly from 1Q08, despite the roughly 50% rise in the consumer price index: US crude and liquid-fuel production has jumped roughly 170% over that time frame, while consumption has remained flat. Will the spike in prices reverse -- or reinforce -- this surplus supply trend? The answer appears apparent unless there's a significant boost in US demand or exports. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tbmmqdkijh8u {BI COMD} #crudeoil #energy #gasoline @markets(Mike McGlone)