Banaian; Gas Prices Staying the Same For Awhile [PODCAST]
St. Cloud State Economist and Dean, School of Public Affairs King Banaian joined me on WJON today. He says gas prices which are around $1.90 per gallon now will likely stay the same for at least the next couple of months. He expects when the Covid-19 vaccine become more widespread available that the price will likely rise to around $2.20 a gallon. Listen to our conversation below.
Bars, restaurants, gyms, movie theaters and dance studios are closed now due to the Governor's order because of a surge of Covid-19 cases in the state. King says he expects some businesses to be forced to close. He says not just the before mentioned businesses but retail as well. King says the amount of in-person shoppers on Black Friday weekend was way down and the online purchases are not making up for the lost in-person shopping.
King says the market continues to rise because of a feeling of optimism with vaccines likely soon to be approved and available. Kings says the stock market is showing a sign that many expect a great economic 2021.