Retail gasoline prices moving higher again

The retail price of gasoline has been moving higher again lately. In fact, the price of a gallon of regular unleaded gasoline is now 7.7 cents higher than a month ago. Inventories are down and lower than a year ago.

My primary read on this is that the economy is stronger than thought and people are feeling good enough about their finances to keep pumping gas into their cars.

I am still tempted to up my estimate of Q4 GDP growth to 2.5% from 1.7%.

-- Jack Krupansky