Price hike is $75 oil combined with STUPID ethanol changeover which NOBODY seems to comprehend, much less understand.
The changover is closer and in more areas complete, and the $75 oil (part of which were futures people betting on the ethanol clogup) are selling out proportionately.
Of course none of it matters to the goobers in DC who are putting on these pathetic shows of how they 'feel our pain' and are mad as well and aren't going to take it anymore... Nevermind about doing anything, or taking any responsabilty... just need to put on a big show (of course thats a hellovalot easier if you adopt what the MSM is craving for you to say) which is exactly what happened here. Again...
Every damn year there is the horror stories about gas prices, and EVERY year people continue to act surprised at it.. its /boggling
The same morons who mandated MTBE and later changed the mandate to Ethanol also made it illegal to mix MTBE with Ethanol. So, not only was there a shortage of more expensive Ethanol but everyone in the distribution chain had to run their fuel tanks dry. Not only that, they had to thoroughly dry their tanks since ethanol mixes quite nicely with water.