Posted on 02/03/2013 8:48:27 AM PST by John W
U.S. drivers are now paying more to fill up their gas tanks than they ever have at this time of year.
The national average price of retail gasoline posted its biggest overnight increase in 23 months, rising four cents to $3.462 a gallon on Friday, according to AAA. The average price has risen 13 cents in the past week, a 4 percent jump.
"This is the highest price record for February 1st," says OPIS analyst Tom Kloza, who predicts the average price could reach $3.50 a gallon this weekend.
"Refinery issues and speculation about refinery issues has a lot of money betting on still higher prices," Kloza said.
(Excerpt) Read more at nbcnews.com ...
Now that Obummer is in control I bet we will see $5.00 gas by the end of 2013.
Yep, this has been all over the news....or not.
Two reasons... First the US dollar continues to depreciate due to the Federal Reserve quantitative easings. Oil is priced in dollars so up the price. Second domestic production other than in North Dakota is down, refinery capacity hasn’t changes in decades, the EPA regulations on gasoline and refineries have long run amuck and a secure source of oil for the US with the Keystone pipeline has been stymied by Obama.
They'll quickly get back in place and this bit of news will go down Winston's Memory Hole. Can't let the sheeple know what's really going on!
Thank you you Evil PONS Usurping in the White Hut...
up $.15 over two days last week...
Coming (back) soon? It's for the children, to protect us from scams, for our safety, for global warming, whatever.
“Under my plan, energy prices will necessarily skyrocket”—Bronco Bamma.
Need to get those oil men out of the White House!
That was the plan. Force the prices to rise so we won't burn so much of it and we reduce our carbon footprint.
Hope and Change. Fundamental change.
I'd like to give 'em carbon footprint of my boot right where it will do the most good.
The election is over.
If George Bush was in office it would be a total failure of the Administration.
We're about 40 cents above that.
$2.96 here in Montana.
I filled up with $3.20 premium just three weeks ago, at a station with regular at $2.96. There was something of a minor gas war going on. This was Hess.
The wild spikes have been a unique feature of this economic environment since 2008. There is no price stability. There is nothing that has happened over the past week to warrant retail gas prices jumping forty cents a gallon. Nothing at all.
GS traders need their seven figure bonuses. They’ve been under recent criticism and scrutiny for speculation in ag commodities, thus driving up food prices leading to riots and near starvation in poorer parts of the world.
So, the vultures have alit upon oil futures once again, not that that explains retail spiking in such a pronounced way. In reality, it takes time for this sort of thing to filter through to reach retail.
But this isn’t reality. Oh, it’s real for people filling up their cars alright, but the rationalization behind it is fiction.
I wondered at the expenditure for digital LED gas price signs over the past few years, now I know. A ten cent or more swing between morning commute and lunch is the new normal.
Yep. It went up $.42 in the past week here in Northern MO. I was stunned, to say the least. And, like many, asking why this week? What happened to warrant such a price spike? It just makes no sense.
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