Got gas? :-)
The Lundberg Survey has found that gasoline prices went up an average of 12 cents in the last two weeks, and 18 cents in the two weeks preceding them, for a total increase of 30 cents a gallon in the last four weeks (for those of you TOO STUNNED to do the math)! The average price of a gallon of self-serve regular is now $3.81!
Those of us in California WISH it were that low! My last tank at Costco was $4.119/gallon, and the price has since gone up to $4.139/gallon, the last time we looked! 😉
(Note added March 14, 2012: My self-serve regular at Costco today was $4.159/gallon. It is raining, and I don’t ride my motorcycle in the rain [intentionally, anyway]. Friction is FAR too important to staying alive. 
)
As it turns out, gas prices are not only high because of 1) possible manipulations by Big Oil, but also 2) because of rich (and cowardly) speculators speculating on the price of crude, and 3) the maintenance of oil refineries on the West Coast (see #1). Although the price of crude is the major factor (resulting from the FEARS of oil speculators, living in their wallets), there is a glut of gasoline everywhere in the U.S. except the West Coast (funny how those refineries seem to shut down at “opportune” times…).
“Gasoline prices would like to peak soon because there is too much gasoline supply versus demand,” Lundberg said, “except on the West Coast due to refinery maintenance projects.’
The higher prices on the West Coast “attract gallons from elsewhere in the country,” impacting supply nationwide, she said. “So it creates a slightly tighter gasoline market for now.”
“When those maintenance activities come to an end in the next few weeks, that will mean even greater gasoline supply versus demand,” Lundberg said.
The price of gasoline is 31 cents a gallon HIGHER than it was LAST year. Of course, last year was not a presidential election year (see #1, #2, and #3, above). Almost ALL of that 31 cent difference happened in the last FOUR WEEKS.
In the last Lundberg Survey, the city with the lowest prices for gasoline was Denver, at $3.36 per gallon; the highest was Los Angeles, at $4.35!
With mild temperatures in California, I plan to switch to two wheels (trading one black Honda for another!) for my commute, weather permitting. With others cutting back on their driving, there should soon be a major glut in the gasoline pipeline.
-Bill at
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