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Commodity Prices Continue Surge

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the staff of the Ridgewood blog

Ridgewood NJ, the markets are giving many mixed signals on inflation (the 10 year Treasury is stable between 1.55% and 1.7% and the TIPS spread is signaling a 10-year inflation rate of about 2.4%.) .

Continue reading Commodity Prices Continue Surge

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Shortage of Qualified Truckers Could Lead to Gasoline Shortages this Summer

gas station new jersey1

the staff of the Ridgewood blog

Ridgewood NJ, first it was toilet paper , now its gasoline. Concerns grow about shortage of gasoline at filling stations this summer. The shortage would  have nothing to do with gasoline supply , but more a case of a shortage of qualified truck drivers to get the gas from the refineries to the stations.

Continue reading Shortage of Qualified Truckers Could Lead to Gasoline Shortages this Summer

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Need gas? You shouldn’t fill your tank until Wednesday


By Larry Higgs | NJ Advance Media for
on September 06, 2016 at 8:31 AM, updated September 06, 2016 at 10:25 AM

The September slide of gas prices is starting.

Wait a minute? Haven’t prices pushed back over $2, even in New Jersey, where the average gas price is lower than the rest of the country?

As drivers returned to work Tuesday, the average price of gas in New Jersey retracted a little, to $1.99 a gallon.

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Gas and food surge sends May prices on a tear



U.S. producer prices in May recorded their biggest increase in more than 2-1/2 years as the cost of gasoline and food rose, suggesting that an oil-driven downward drift in prices was nearing an end.

The Labor Department said on Friday its producer price index for final demand increased 0.5 percent last month, the largest gain since September 2012. That followed a 0.4 percent decline in April.

In the year to May, the PPI fell 1.1 percent, marking the fourth straight 12-month decrease. Prices dropped 1.3 percent in the 12 months through April, the biggest fall since 2010.

Economists had forecast the PPI rising 0.4 percent last month and falling 1.1 percent from a year ago.

A sharp decline in crude oil prices since last year and a strong dollar have weighed on producer prices. While rising oil prices are easing some of the downward pressure on inflation, the upward trend in producer prices will be gradual because of the dollar’s strength.

The greenback has gained about 13.2 percent against the currencies of the United States’ main trading partners since June 2014.

The stabilization in producer prices should support views that the Federal Reserve will raise interest rates this year.

Last month, gasoline prices surged 17 percent, the largest increase since August 2009. Food prices rose 0.8 percent in May, the biggest gain in just over a year, snapping five straight months of declines.

Higher food prices were driven by a shortage of eggs after an outbreak of bird flu led to the culling of millions of chickens. Wholesale egg prices soared a record 56.4 percent last month.