Chart of the day

Hawkish comments from the Fed (They are voicing concerns over inflation.) continue to weigh on the stock market. Today, however, one significant component of inflation - oil - continued its recent decline and closed at $61.60 a barrel. Today's chart focuses on that all important byproduct of oil, gasoline, and illustrates the seasonal tendency of gasoline prices. Based on these seasonal factors, it wouldn't be out of character for gasoline prices to ease over the next few months.