Last Thursday we polled readers for their thoughts on oil and gas prices. Below we provide the results of our two polls. At current price levels, almost two-thirds of Bespoke readers say they are currently bearish on the price of oil. As The Big Picture has been highlighting recently, even though oil remains in a nice bullish uptrend, sentiment is negative, making oil bulls the contrarians.
When we asked readers what fuel price would cause them to change their driving habits, it was good to see that 39% say they already have. But those looking for a demand decrease if gas gets to $4/gallon may not want to get their hopes up, as only 13% said that level would cause them to alter their driving. Twenty-one percent said $5/gallon would cause them to change, and unfortunately, 16% said that no price will make them change. Hopefully it's because they're already taking the train.
