After a year of proclamations from mainstream media (and Wall St. economists) that low oil prices mean low gas prices at the pump which means "bonanza" for US consumers, it appears none of that happened. Confidence is fading fast despite what some suggest is $550 average savings this year as 'gains' flooded into soaring rent and healthcare costs. But, more recently, as stock markets celebrate a soaring oil price (off decade lows), wholesale gasoline prices have soared 10% in a little over 48 hours...
If lower gas prices was "unequivocally good" for the consumer, what are higher gas prices?
Charts: Bloomberg