Another volatile market day.
This one caused by the concern over what's happening in Iran could drag on, based on comments the administration said yesterday.
If that happens, gasoline without a doubt will increase in cost. So far the National average in the US has increased .12 in the past few days.
The Dow, which had hit 50,000 in February is now sitting at 47,826 after experiencing the largest drop since April 2025.
https://www.cnbc.com/2026/03/02/stock-market-today-live-updates.html
The national average for price of gas already rose 11 cents to $3.11 per gallon per AAA.
Guess it will rise back over $5/gallon here in CA soon too. 🤷♂️
https://apnews.com/article/iran-oil-gas-gallon-aaa-e2daee318b8e3e6a1124713909a410e4
The average price for a gallon of gasoline jumped 11 cents overnight in the U.S. And drivers in Europe waited in line to fill their tanks with fuel. This happened as war engulfed the Middle East and shipments of oil and gas were stranded in the Persian Gulf. Gasoline prices are rising as oil prices soar to levels not seen in more than a year. The spikes are happening after the U.S. and Israel attacked Iran and Iran launched a series of retaliatory attacks, including a drone strike on the U.S. Embassy in Saudi Arabia.
Yep, national average went up .11 today, and .01 yesterday
Right now, gas is still the same locally [for me],-- as of this morning, but I expect it to go up soon.
We have a double whammy of a refinery closing in Martinez by April, which will also cause local pricing to rise.
@Starcade I anticipated the market dropping significantly after #Drumpf stupidly authorized the military attack on #Iran to "get his way."
However, while the drop in the market will do serious damage (at least temporarily) to the value of investment accounts (yours, mine & everyone else's), the increase in #MarketVolatility as measured by the #VIX is a good thing from my perspective because it increases the internal valuation of the #SP500 #Options that are traded in #SPYI and yield the income from that #EFT that I have come to enjoy.😊
I've always tracked the VIX and have it on my phone watchlist. This morning it was at 22%, but now its at 5%
Currently the market is trying recover losses prior to close, but I suspect volatility will continue. It's likely some are buying the dip.
Starcade
sgt1372