Energy Market Trends Ahead of Midterms
There is an unusual decoupling in energy markets, with gas prices decreasing and electricity prices increasing at extraordinary rates.
According to the Labor Department, average costs for powering homes and buildings are trending upward, while prices at the pump are going down due to growing supply and tepid global oil demand growth.
- Nationwide average gas price expected to hover around $2.90 per gallon next year, 6% less than this year.
- Analysts believe sub-$3 per gallon gas could become a semi-permanent situation.
There's an unusual decoupling going on right now in energy markets: gas prices are coming down, while energy prices and costs for everyday Americans are shooting up at extraordinary rates.
Author's summary: Energy market trends may impact midterm elections.