Gee, if oil prices are dropping, why did gas go up 16 cents just today...??????
Demand for gasoline averaged 9.35 million barrels a day last week, up 2.7 percent from the prior week, the report showed. U.S. supplies of gasoline, crude oil and distillate fuel rose as imports and refinery operating rates increased. Gasoline pump prices are 32 percent higher than a year ago, according to the AAA, the nation's largest motorist organization.
``At first glance you would think prices would be down because of the rise in inventories, but those are solid gasoline demand numbers,'' said Kyle Cooper, director of research at IAF Advisors in Houston. ``Demand was expected to be weaker because of high prices.''