I have written previously about gasoline prices - particularly how movement in gasoline prices can foretell a broader inflationary climate.
Locally, the price at the pump has increased roughly 20 cents per gallon in the past week. This is a major increase that bears implications for the economy as a whole, particularly real estate prices.
On the other hand, crude oil prices may have begun a pullback globally.
We do not really know which way oil related prices may go, but whichever way it is, real estate prices should go with them.