Gasoline price jumps in mid-Michigan region. Unl/reg now $2.95, up from $2.78

[Purveyor]

Just as there is a crude oil glut and oil companies are shutting/selling refineries.

Certainly not a positive factor in any protential economic recovery.

[CountAllVotes]

1. it is $3.29 here in California

where the citizens don't deserve Prop. 13. :sarcasm:

:dem:

[DJ13]

5. We have a station here in Central Ca still selling reg for $2.93

Its a Valero station, and they typically undercut every other bargain brand by .10c per gallon.

[CountAllVotes]

6. if I go to the Indian casino it is $3.20

and if I use my credit card that gives me 5% cash back on gasoline purchases it makes it about $3.05 a gallon. The problem is that the casino is rather far from where I live and is not worth the drive there to save ~.25 cents a gallon to fill-up.

Can't win for sh*t here in California IMO. I'm betting it is close to $3.50 in San Francisco by now. :(

:kick:

[taught_me_patience]

11. WOW... $3.03 this morning in Long Beach

Branded gas station. Where are you located?

[CountAllVotes]

12. way north near the Oregon border

I believe that gasoline is more costly here than anywhere else in the USA best I can tell.

It was no big deal when I first moved here some 20 years ago but now I really watch where I go. I have a 2002 Honda Accord that gets about 25 miles to a gallon and no, I don't want nor need a new car.

They really "gotcha" here (very little public transportation available, etc.). :(

:kick:

[liberal N proud]

2. Drove to Florida and back this last week

Paid anywhere from $2.59 to $2.98

Ohio, West Virginia, Virgina, North Carolina, Georgia and Florida. South Carolina had the cheapest fuel at $2.59

[Warpy]

3. The problem is a pricing formula that's become obsolete

that takes a percentage of the price from crude oil on long term contract and a percentage on spot market prices. In a normal market, the price rises and falls only a few cents with rises and falls in spot market price. Sometimes the spot market is cheaper than contract, sometimes the opposite.

Right now, we have a market that has been pushed into a bubble by hedge funds and large investment banks. Golden Sacks is foremost among these. It's easier to create bubbles in commodities than in stocks, and petroleum is one of the most vulnerable of all. It's obvious that the laws of supply and demand have nothing to do with the market at present, since we're drowning in crude oil.

Producers need to change their pricing formula to reflect the new reality and the vulnerability of commodities to bubble markets.

Until they bother to do that, expect to pay through the nose at the pump.

[jwirr]

4. NE MN $2.85.

[golddigger]

7. SE Oregon it's $2.92

[Motown_Johnny]

8. it is the economic rebound that is increasing demand and causing the higher price

paying about $2.80 in Detroit just FYI

[Purveyor]

9. The fact the refinery output is only around 80% isn't helping either. eom

[Ernesto]

10. Is anybody really surprised? nt

[Canuckistanian]

13. Our prices just shot up to over $1 per Litre

That's about $3.75 per US Gallon.
Highest it's been in over two years.

[lib2DaBone]

14. Oil up ... the goldman Sachs boys are at it again...

Here comes $5 gas and a double dip...