National Average Price Per Gallon: $3.027
According to Senator Tom Carper (D-Del.), the president proposed raising the gas tax “repeatedly” during a bipartisan meeting last week.
Conservative group Freedom Partners has sent letters to the White House opposing the increase. The group contends that the proposed 25-cent rise in the gas tax will cost households between $103 and $390 per year (depending on which state they’re located in).
Framing lumber: $500
Panels/plywood: $523
Framing lumber sales picked up again, mostly after midweek. Many key prices continued to rise, although the price of some products finally started to fall after reaching record highs.
Trading in structural panel products fell slightly compared to recent weeks. However, tight supplies still caused prices to climb.
U.S. consumer sentiment rose by more than expected in February.
The University of Michigan’s report on consumer attitudes rose to 99.9. This is the second-highest level since 2004. (The index measures consumers’ attitudes on personal finances, inflation, unemployment, government policies and interest rates.)
Despite volatile swings in the stock market earlier this month, consumers are focused on economic news about rising incomes and a historically low unemployment rate.
“Favorable references to government policies were cited by 35% in February, unchanged from January, and the highest level recorded in more than a half century,” said the survey’s chief economist Richard Curtin.
Sources: Random Lengths, EIA, CNBC (1), CNBC (2)