A couple charts from Eric Parnell posted to Seeking Alpha:
click to enlarge
And:
...Gasoline
prices have followed a predictable trend since the first days of Fed
stimulus. During QE1, gasoline prices skyrocketed by +118%. Once QE1
ended in April 2010, gasoline prices immediately dropped by -27% in a
matter of months, and this occurred during what is typically the strong
summer driving season. Once QE2 was delivered to the market in August
2010, gasoline prices jumped another 92% by the end of this stimulus
program in June 2011. Once again, the moment QE2 ended, gasoline prices
retreated another -28% in a matter of months. Finally, since the latest
Fed stimulus program along with the European Central Bank's own LTRO
program, we've seen gasoline prices skyrocket another +30%. What is even
more irksome is that much of this rise in gasoline prices has occurred
during a time when gasoline consumption has been falling. Have the laws
of supply and demand been repealed? No, they've just been severely
distorted by policy action....MOREMandatory correlation ≠ causation disclaimer,
