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Fri Oct 5, 2012, 01:52 PM

Gasoline Prices Set to Rise Through Election Day

Source: CNBC

Retail gasoline prices, already at the highest levels on average since July 2008, are likely to continue to climb this month as refinery and pipeline problems overshadow weakness in U.S. consumer demand.

On Wednesday night, a fire broke out at Exxon's Baytown, Texas refinery, a 584,000 barrel per day facility that is the largest operating refinery in the U.S.

Exxon said there may be "some impacts to production" from the fire, but the plant will resume normal operations. A partial shutdown of the Colonial Pipeline, the nation's largest oil product pipeline, also contributed to supplies fears, as it impacted the portion of the line carrying gasoline from Atlanta to Nashville.

"It will only take another refinery issue and a bit more of geopolitical noise to have the first U.S. election at a US average gasoline price of $4 a gallon," says energy analyst Olivier Jakob of Petromatrix. (Read More: Gas Prices Jump Up to 20 Cents Overnight in California)

The national average for regular unleaded is now at $3.79 a gallon, basically on par with where pump prices were last Friday.

Read more: http://www.cnbc.com/id/49303656





It will remain $5 probably through 2012.

19 replies, 2936 views

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Arrow 19 replies Author Time Post
Reply Gasoline Prices Set to Rise Through Election Day (Original post)
JRLeft Oct 2012 OP
montanto Oct 2012 #1
kestrel91316 Oct 2012 #2
cstanleytech Oct 2012 #3
Third Doctor Oct 2012 #4
JRLeft Oct 2012 #5
sinkingfeeling Oct 2012 #6
Arugula Latte Oct 2012 #7
SleeplessinSoCal Oct 2012 #8
allan01 Oct 2012 #9
liberal N proud Oct 2012 #10
AndyTiedye Oct 2012 #11
Purveyor Oct 2012 #12
southerncrone Oct 2012 #13
jwirr Oct 2012 #14
WallaceRitchie Oct 2012 #15
elbloggoZY27 Oct 2012 #16
OldDem2012 Oct 2012 #17
greiner3 Oct 2012 #18
underpants Oct 2012 #19

Response to JRLeft (Original post)

Fri Oct 5, 2012, 01:54 PM

1. tell me this isnt the oil companies' vote.

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 02:00 PM

2. Of course they are - this is part of the Desperation Plan every 4 years. Scare the voters into

picking the one who will "lower gas prices".

I happen to think billionaire RWers have huge influence on the oil market. Remember how that one guy manipulated the price of silver back when? ONE wealthy person did that.

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 02:02 PM

3. "Gasoline Prices Set to Rise Through Election Day" Not telling me anything I didnt suspect was

going to happen months ago really.

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 02:07 PM

4. I expected this. The oil companies are behind the RW all the way.

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 02:07 PM

5. They are like another Super Pac.

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 02:10 PM

6. The UN released report that the 'financialization' of the commodities markets

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 02:13 PM

7. No one could have predicted this.

Wait, why yes, yes they could have.

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 02:15 PM

8. I wonder about the fire . . . .

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 02:23 PM

9. re:Gasoline Prices Set to Rise Through Election Day

the oil companaies have done this during every election cycle since i can remember . greedy bastards.

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 02:25 PM

10. Refinery and pipeline problems? Hmmm?

Makes you wonder, Oil barons giving money to a certain candidate? A certain party making claims that gas prices have more than doubled under their opponents administration? Oil companies mysteriously having "problems" ahead of an election?

There's no coincidence here, no, not at all!



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Response to JRLeft (Original post)

Fri Oct 5, 2012, 02:27 PM

11. The Spread Between Red-State and Blue-State Prices is Also Increasing

I'm sure the upcoming election has nothing to do with this.


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Response to JRLeft (Original post)

Fri Oct 5, 2012, 02:28 PM

12. Mid-Michigan prices just spiked .20 here this morning. $3.99 is not the going price... eom

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 02:31 PM

13. Of course they will, I'd expect nothing else.

Let's face it, the oil industry doesn't like "green" or "blue".

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 02:36 PM

14. The October surprise via the oil companies.

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 02:43 PM

15. Gas price was declining

The first week or so of September, the average price of unleaded had appeared to peak in the 3.83-3.86 range, nationally... and had been declining through the end of the month.

Suddenly, with a favorable jobs/unemployment estimate... up we go.

The madness currently taking place at pumps in California will distort the national average.

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 06:57 PM

16. Where is the Congress

 

These oil giants are fleecing every citizen in the United States and the Replacement Congressmen do absolutely nothing.

Come November I hope these Guys & Gals are sent packing right out of Washington because they have not done a single thing to help us.


It may sound blunt but these folks are not qualified to be in Washington let alone the White House.

The United States was founded by real Patriots and I would like to know where they are.

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Response to elbloggoZY27 (Reply #16)

Fri Oct 5, 2012, 07:05 PM

17. Is that a serious question? Big Oil donates huge amounts of money....

...to Members of Congress to make absolutely sure nobody interferes with their operations.

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 08:40 PM

18. "...refinery and pipeline problems..."

Uh, conspiracy theory anybody?

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Response to JRLeft (Original post)

Fri Oct 5, 2012, 09:07 PM

19. I hate to sound like one of those "Jobber truthers" but.....

this stinks. The explanation I heard on NPR for the 12 cent overnight jump in California was a few "events" at California refineries. One was a "power outing" - I don't know the specifics but that sure is a coincidence now isn't it?

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