Highest Gas Prices in February Since 1990, Attributed to Libya Turmoil

ABC ^ | 02/22/2011 | ABC

[The Magical Mischief Tour]

Weekly gas prices skyrocketed, according to the Department of Energy, driven by the popular revolts spreading across the Middle East.

The U.S. weekly average price per gallon is $3.19, up 54 cents from a year ago, and slightly higher than last week's $3.14. This was the highest price posted during the month of February since 1990, when the data became available. The most expensive regions again are New England at $3.23 and California at $3.56.

Oil settled at $93.57 in New York trading, up 8.5 percent since Friday's close, the biggest one day jump in nearly three years years.

[TexasFreeper2009]

wow

Obama is destorying the world

[econjack]

Lybian turmoil? I don’t think so. Lybia’s a relatively small player in OPEC. It’s because some Dufus named Barac hasn’t recinded his Executive Order that stopped all drilling. Leave it to the MSM to try and deflect the blame.

[TankerKC]

I thought Dick Cheney dictated world oil prices.

[Diogenesis]

5 .. 4 .. 3 .. 2 .. 1 ..”Bush’s fault” (DemoRATS in unison)

[1raider1]

Where I live in Indiana, the price of regular unleaded is 50¢/gal. higher than yesterday. It was $2.86/gal. now $3.36.

[tcrlaf]

Nice that they finally noticed.
I wonder if they will blame it on the Evil Oil Man in the White Hut??

Oh....
WAIT....

[reagan_fanatic]

Somehow, some way, Bush will be blamed for this.

[PLD]

I attribute it to Obama and his Idiot Czars

[blasater1960]

Hussein better watch it. He is going to bring our country to it’s knees...Oh wait...thats the Soros/Hussein plan. Can we impeach him yet?

[FreedBird]

Obama is a weak President and the world knows he will sit back and do nothing but read speeches someone else wrote.

[jeffc]

Highest gas prices since 1990? ABC is smoking some bad stuff! Don't they remember when gas was over $4/gallon? Does 2008 ring any bells? At least it was over $4 a gallon here in central Florida.

I can't believe ABC is (inadvertently) dissing their boy king like this.

[newgeezer]

Apparently, the fact that Libya is unstable and ruled by a certifiable madman was big news to the oil market.

[Malsua]

Highest gas prices in FEBRUARY. They qualified it so that they could pin the previous date on a Bush.

[newgeezer]

Highest gas prices since 1990? ABC is smoking some bad stuff! Don't they remember when gas was over $4/gallon? Does 2008 ring any bells? At least it was over $4 a gallon here in central Florida.

Adjusted for inflation, no doubt.

[jeffc]

Also, I would think that the (under-reported) turmoil in Iran would have a greater effect on gas prices than Libya. The report says we buy 40% of our crude from Europe. That sounds a bit excessive (and stupid). We should be buying directly from the producing states, unless we have to use a middleman just to get a decent price...).

I say the Iran protests are under-reported because I had to use the search function at the FOX news website to find anything on it. With all the reporting on Mideast turmoil, why does the Iranian thing get shoved to the back of the bus?

[Bean Counter]

You ain’t seen nuthin’ yet. The flow of oil out of Libya has not stopped, yet. When it does, that’s when all hell will break loose.

[NoLibZone]

We will see $5.00 a gallon this summer.

Obama will have to flee to Kenya

[Some Fat Guy in L.A.]

Amazing how all of the stations raised prices today when for the most part the gas in their tanks was purchased at a lower rate.

[jeffc]

Highest gas prices in FEBRUARY. They qualified it so that they could pin the previous date on a Bush.

Ahhhh! Well, they'll be sorry they brought it up because as the Mideast heats up, gas prices will go up, up, up. As much as I'd like to see the Iranian regime fall, there is definitely a price to pay there: gas prices. BUT... if a democratic government took hold there, I'm sure gas prices would eventually come down to reasonable levels, maybe even $2 a gallon! *holding breath*