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Takeaway: 58% voted NO, 42% voted YES

If you follow Hedgeye, you know that one of Keith’s key themes has been #InflationAccelerating. That’s very evident when it comes to oil prices, which have been climbing.

In the video below Macro Senior Analyst Darius Dale discusses the Fed’s monetary policy and geopolitical risks that are impacting on oil prices and the energy sector.

Now, as the summer driving season gets into full swing ahead of the July 4 holiday, we want to know: Will gas prices hit $5 a gallon in your area this year?

At the time of this post, 58% voted NO, 42% voted YES.

Those who voted NO gas prices will not hit $5 a gallon in their area this year reasoned:

  • I think we'll ramp slightly this summer, but not too much -- don't think we'll hit $5 a gallon. I also think that Middle East pressure on prices will recede, and those worries already are priced into the market.

Voters who said YES gas prices will reach $5 had this to say:

  • Things look perilous in the Middle East, which will pressure prices. The weaker dollar and the Fed's policy to inflate won't help matters. This has $5 gas written all over it.
  • At about $5.xx we reach the tipping point for e-vehicles adoption. Many are pushing for this price level. Plus, who would dare add more gas tax with prices at this level.