Posted on 08/23/2016 2:25:04 PM PDT by bananaman22
In one of the rare recent increases for a late-summer week, U.S. retail gasoline prices unexpectedly rose in the week to August 22, by US$0.044 to US$ 2.193 per gallon, according to data by the U.S. Energy Information Administration (EIA).
Gasoline prices have dropped during this particular week in eight of the past ten years, and last week saw the biggest increase for this week since a US$0.062 rise in 2005.
In the previous two August weeks, U.S. average gasoline prices had stood at US$2.150 in the week to August 8 and at US$2.149 in the week to August 15.
In the week to August 22, gasoline prices rose in all regions, with the East Coast increasing by US$.051, and New England up by US$ 0.062.
U.S. on-highway diesel fuel prices also increased in all regions last week, with the average national price rising to US$2.370, up by US$ 0.060 from the week of August 15.
(Excerpt) Read more at oilprice.com ...
Baton Rouge Exxon refinery was off line. 4the largest in country.
And I believe the price of crude oil is up about 20% since June.
I would tend to agree with you, as Labor Day is right around the corner. But the article says differently, vis:
-—In one of the rare recent increases for a late-summer week, U.S. retail gasoline prices unexpectedly rose in the week to August 22,...-—
One would think a publication called “OilPrise.com” knows what they’re talking about, so either they don’t or we don’t.
You’re probably right - makes sense to me. Thanks.
Correct. This is a pricing mechanism that reflects tight supply during a travel holiday period. People not traveling will resist filling their tanks if they can, so people needing the gas can have the supply.
It’s not rocket surgery.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.