1- The October gasoline futures surged 50 cents last-week. That is HUGE. Futures prices predict, guess what, the FUTURE of PUMP PRICES because entities take delivery of gasoline at those prices when the October futures matured last Friday.
2- The PUMP prices normally start a decline after Memorial-Day. This time the prices held and are at ALL TIME RECORDS for October 1.
3- Pump prices have a large effect on consumer discretionary spending (read: the movies and DVD/Bluray sales.)