Gas prices soar on decreased oil Co. profits and pending summer.

[LeftHander]

What the hell else could it be?

[snappyturtle]

1. Ever growing greed? nt

[jsamuel]

2. more speculation that oil prices will increase in the future = futures market

that's what drove it last time, it will likely be the driving factor in any future rise as well

[madrchsod]

3. s-p-e-c-u-l-a-t-i-o-n......

[LeftHander]

4. Yup....look at the volume on futures....

http://futures.tradingcharts.com/chart/CO/C2

[graywarrior]

8. Yep, those speculators need to be hunted down and ripped to shreds

[pnutbutr]

5. IDK

reserves are up, refinery output is up, demand is down. There is no reason prices should be going up. I read a thing the other day about a trader who was getting calls from people who were asking WTF are we supposed to do with oil, it's going up for no reason and seems to be the only commodity that doesn't follow traditional supply demand cycles. Also the US government was saying that reserves are down, demand is up and unemployment is down which may be fueling the futures speculation even though it's completely false.

[LeftHander]

6. Cheney must of sent secret codes via his recent media spew....

I saw his eye blinking rapidly and decoding the snearing as a dash and blinking as a dot he said:

LUBE UP THE OWL BEFORE IT GETS HOT STOP OPS PHASE 2 BEGIN STOP

[melm00se]

7. Oil prices

(and subsequently gas prices) dropped due to the anticipated drop in demand due to a slowing economy (both domestic and world) which is what happened over the last 12 or so months. As the economy is beginning to turnaround (http://www.bloomberg.com/apps/news?pid=20601087&sid=afNxR8Ary_Nk&refer=worldwide), the expectation is that oil prices will begin to creep back upwards.

[Lugnut]

9. $2.33 a gallon for regular here today.

It sure beats $3.95 a gallon but what the heck?