[okie01]

Here in Colorado Springs the price for gas has gone UP 25 cents in the last ten days. What gives?

Saudi Arabia's King Abdullah died.

No. Really.

Any hiccup in the Middle East is guaranteed to send tremors thru the oil market.

As soon as it becomes apparent that the Saudis' oil policy remains unchanged, the price will subside again.

[Paul R.]

Here in Colorado Springs the price for gas has gone UP 25 cents in the last ten days. What gives?

Saudi Arabia's King Abdullah died. No. Really.

Any hiccup in the Middle East is guaranteed to send tremors thru the oil market.

As soon as it becomes apparent that the Saudis' oil policy remains unchanged, the price will subside again.

I'd add to that the situation in Yemen -there are some fears it could spill over into Saudi Arabia, tho' that fear seems to be subsiding a bit, at least for now.

In fact, prices recently spiked here in the Midwest, too, but now appear to be substantially on the way back down again. (We shall see!)

IMO, in the long run, even if the Saudis decided to cut production, the price increase that would occur would be temporary: The fracking cat is out of the bag, and higher prices will only encourage the $40(?) $50(?) producers who can increase production, to do so, eventually pushing prices back down. This is why the Saudis have said that $100 / barrel oil is gone for good, or at least for a long time.