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PRICES DIPPED BELOW $3 A GALLON,
THAT BARGAIN.
FALLING PRICES AT THE PUMP
JUMPED QUICKLY, CHANGING COURSE
IN A MATTER OF OURS.
DAVID BARRAS IS HERE WITH WHY
YOU ARE NOW FEELING THE PINCH,
DAVID.
David: DEBBY, TODAY THERE WAS
UNEXPECTEDLY GOOD NEWS FOR THE
ECONOMY.
AS IT TURNS OUT, GOOD NEWS FOR
THE ECONOMY IS BAD NEWS FOR YOUR
WALLET.
AT LEAST IN THE SHORT RUN.
BUT DON'T WORRY, THE GOOD NEWS
WAS WASHED AWAY BY SOME
UNEXPECTED BAD NEWS.
AS I FOUND OUT, IT'S LIKELY GAS
PRICES WILL START FALLING AGAIN
SOON.
IT HAPPENED HERE AT THE
INDIANAPOLIS 66 STATION.
MORNING.
I THINK IT WENT UP AT THE
TERMINAL YESTERDAY.
Reporter: NOW $3.49 A GALLON
FOR REGULAR UNLEAD, THE PRICE AT
THIS STATION WAS $3.47.
FEAR HOW HURRICANE SANDY MIGHT
HIT REFINERIES PUSH PRICES UP
THE PAST THREE DAYS.
THEN THIS MORNING THE GROSS
DOMESTIC PRODUCT IMPROVED MORE
THAN EXPECTED IN THE PAST THREE
MONTHS.
IN TODAY'S ENVIRONMENT THAT
WAS A PLEASANT SURPRISE.
Reporter: OWNER OF CAPITAL
COMMODITY SERVICES IN
INDIANAPOLIS FOLLOWS CRUDE OIL
AND WHOLESALE GAS PRICES FOR A
LIVING.
WHEN THE REPORT CAME OUT, IT
IMMEDIATELY WENT UP TO THIS
LEVEL.
IT WENT UP TO $2.66.
WELL, THE THEORY BEHIND IT IS A
BETTER ECONOMY IS GOING TO
CREATE MORE DEMAND.
Reporter: SO AN IMPROVING
ECONOMY MEANS YOU PAY MORE AT
THE PUMP.
GOING BACK UP BECAUSE OF THE
NOT RIGHT.
Reporter: BUT THIS TIME THE
JUMP IS PROBABLY ONLY
TEMPERATURE.
THAT BETTER THAN EXPECTED
NUMBER WAS OVERSHADOWED BY POOR
EARNINGS THAT HAVE BEEN COMING
OUT ALL WEEK.
Reporter: APPLE AND OTHER BIG
COMPANIES EARNED LESS THAN
EXPECTED AND COHEN SAID THAT
HELPED WHOLESALE CROWD DROP BACK
BEFORE THE DAY WAS DONE.
THAT SHOULD HELP THE PRICE AT
THE PUMP FALL AGAIN.
THEY NEVER DROP AS FAR AS
THEY SHOULD, BUT THEY GO UP
FASTER THAN THEY GO DOWN.
Reporter: AND YOU'D FIND A
THAT.
WHILE THE GDP NUMBER JUMPED MORE
THAN EXPECTED ONCE ANALYSTS
LOOKED THROUGH THE REPORT THEY
FLAT.
THAT WAS THE REALITY CHECK.
CORPORATE SPENDING HELPS FUEL
THE ECONOMY.
UNTIL THAT PICKS UP THE ECONOMY
WILL IMPROVE VERY SLOWLY AT
Debby: THAT'S THE ECONOMY ON
ONE SIDE.
WHAT ABOUT THE ELECTIONERS DOES
THAT PLAY INTO PRICES AT ALL?
Reporter: ABSOLUTELY IT DOES.
LANNY COHEN TELLS ME THAT'S WHAT
PEOPLE ARE WAITING FOR.
THEY WANT TO FIND OUT WHOSE
GOING TO WIN, AND, B, ARE WE
GOING TO TAKE CARE OF SOME OF
THESE ECONOMIC PROBLEMS THAT ARE
OUT THERE.
IF SO, HOW.
ALL OF THAT WE'LL KNOW BETTER
ONCE THE ELECTION IS OVER.