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Fri Feb 1, 2013, 07:12 AM

Gasoline prices get early start on spring surge

Source: AP-Excite

By JONATHAN FAHEY

NEW YORK (AP) - Gasoline prices are getting an early start on their annual spring march higher.

The average U.S. retail price rose 13 cents over the past two weeks to $3.42 per gallon, and within a few days it will likely set a record for this time of year.

The culprits: Rising crude oil prices, slowing output at refineries that are undergoing maintenance, and low supplies of gasoline.

These are the kinds of things that push gasoline prices higher every spring after what is normally a lull in gasoline prices in the late fall and early winter. But a heavy schedule of January maintenance at West Coast refineries has led to sharply higher prices there. Meanwhile, low inventories have pushed prices higher on the East Coast.

FULL story at link.


Read more: http://apnews.excite.com/article/20130131/DA45ETDO2.html





A man buys gas at a station Thursday Jan. 31, 2013 in Los Angeles. Gasoline prices are climbing as rising economic growth boosts oil prices and temporary refinery outages crimp gasoline supplies on the East and West Coasts. (AP Photo/Nick Ut)

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Reply Gasoline prices get early start on spring surge (Original post)
Omaha Steve Feb 2013 OP
Shadowflash Feb 2013 #1
dotymed Feb 2013 #2
lotsofsnowplease Feb 2013 #3
onehandle Feb 2013 #4
sinkingfeeling Feb 2013 #5
u4ic Feb 2013 #6
Not1moreNeocon Feb 2013 #7
JoePhilly Feb 2013 #8
Not1moreNeocon Feb 2013 #9
JoePhilly Feb 2013 #10
Spider Jerusalem Feb 2013 #14
JoePhilly Feb 2013 #17
Spider Jerusalem Feb 2013 #18
dballance Feb 2013 #11
Comrade Grumpy Feb 2013 #12
Rhiannon12866 Feb 2013 #13
PasadenaTrudy Feb 2013 #15
tawadi Feb 2013 #16

Response to Omaha Steve (Original post)

Fri Feb 1, 2013, 07:32 AM

1. 3.75

This morning in Kalamazoo, Michigan.

Up 40 cents in two days.

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Response to Omaha Steve (Original post)

Fri Feb 1, 2013, 08:24 AM

2. These

The culprits: Rising crude oil prices, slowing output at refineries that are undergoing maintenance, and low supplies of gasoline.

are the same reasons that we get every time they raise prices.
Tell us the truth....they want more profits. Come on, most of the refineries shut down simultaneously for maintenance? Sure..
It is usually because the banksters "buy" (without money of course) options on oil, betting on a price increase, which naturally causes a price increase.
Most people know this (if they pay any attention at all) yet we have proven quite easy to screw, even though...no means no...
I really like the sig line "some days it isn't even worth chewing through the restraints", we should adopt this slogan until WE actually start "committing acts of civil disobedience on a large scale" (Chris Hedges) daily. Occupy everywhere until real, positive change occurs.

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Response to Omaha Steve (Original post)

Fri Feb 1, 2013, 08:46 AM

3. Anoka MN > $2.89 per gallon to $3.40 in 2 weeks!!!

 

The fleecing of America by the largest frauds in the world. The oil companies!!!

What does our beloved Congress do about it?

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Response to Omaha Steve (Original post)

Fri Feb 1, 2013, 09:38 AM

4. $3.51 outside Philly. nt

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Response to Omaha Steve (Original post)

Fri Feb 1, 2013, 11:12 AM

5. One station here was $3.19 last night and $3.59 this morning.

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Response to Omaha Steve (Original post)

Fri Feb 1, 2013, 12:08 PM

6. Yesterday the price jumped from $1.16 a litre to $1.35 here

The equivalent is a rise of .76 cents per gallon, to $5.10/gallon. That's for low grade.



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Response to Omaha Steve (Original post)

Sat Feb 2, 2013, 04:32 PM

7. I almost feel like we're not supposed to talk about gas price…

 

Bush, Cheney, the Iraq war, all gone and yet 2010 to 2013 winter prices have been nearly as high as summer 2008 peak-driving prices

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Response to Not1moreNeocon (Reply #7)

Sat Feb 2, 2013, 04:38 PM

8. The gas prices have tended to move in a pretty close correlation with the DOW.

This graph is a little old, but it's still makes the point. The correlations isn't perfect, but they do tend to track pretty close.

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Response to JoePhilly (Reply #8)

Sat Feb 2, 2013, 04:47 PM

9. Good graph, that's what I always thought.

 

Whether it was the Bush gas bumper stickers in 04, or Fox News' coverage of gas prices today, I've always though both parties would be smart just to lay off gas prices.

Because in reality if you're saying gas prices track the DOW what you're really saying is that higher gas prices show better stock returns, and better stock returns are not exactly an albatross to hang around a politician's neck.

That said, I understand that in today's bumper sticker politics facts don't really matter.

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Response to Not1moreNeocon (Reply #9)

Sat Feb 2, 2013, 04:57 PM

10. The reailty is that the President has no influence over gas prices. Oil

is a global commodity and unless the President nationalizes the US oil industry, the idea that any President can control the prices is silly.

But you are correct ... the truth is now open to interpretation.

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Response to JoePhilly (Reply #10)

Sun Feb 3, 2013, 05:45 AM

14. Even if the US oil industry is nationalised it won't affect fuel prices for Americans.

Not as long as the US continues to import ten million barrels of oil a day, it won't.

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Response to Spider Jerusalem (Reply #14)

Mon Feb 4, 2013, 05:10 PM

17. It might have a some effect. We'd stop exporting oil and reduce our

imports ... but the overall impact would not be to make US oil prices drop to $1.80 or anything like that.

But "energy independence" means being a country that does not need to import energy.

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Response to JoePhilly (Reply #17)

Mon Feb 4, 2013, 05:16 PM

18. The US doesn't export oil

the US exports refined petroleum products (refined from oil that was imported in the first place).

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Response to JoePhilly (Reply #8)

Sat Feb 2, 2013, 07:36 PM

11. That's a Very Interesting Graph

Was there any explanation about why this is so from the place where you got the graph?

My first assumption would be that if the DOW is up then probably production is up so industry, especially transportation of goods, is up and that means more fuel and oil are consumed causing prices to rise as oil supplies dwindle to some degree.

But what are the people/economists who are much smarter than me saying causes this correlation?

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Response to Omaha Steve (Original post)

Sat Feb 2, 2013, 09:35 PM

12. Up 22 cents in two weeks here in Northern California.

I try not to drive much.

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Response to Omaha Steve (Original post)

Sun Feb 3, 2013, 05:34 AM

13. Same here in NY where prices are always higher than the national average

Last month I saw prices as low as $3.49, while I paid $3.77 on Friday, have seen it as high as $3.84.

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Response to Omaha Steve (Original post)

Sun Feb 3, 2013, 10:51 AM

15. $4 in Pasadena, CA

I saw $4.19 for premium last night...

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Response to Omaha Steve (Original post)

Sun Feb 3, 2013, 12:44 PM

16. Exxon Mobil profits continue to soar

on the backs of the middle class.

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