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February 21, 2012

Congress Gets Involved

 

No, it’s not baseball this time. It’s the rising price of gasoline.

And nothing energizes Republicans like rising energy prices. Last week House Speaker John Boehner told Republicans to take advantage of voters’ looming anger over prices at the pump

Let’s get that pipeline moving! And open up more off-shore drilling.

Gas prices are rising for three reasons and non are listed above.

1. Iran’s decision to cut exports to Britain & France (a payback move)

2. Economic recovery is taking longer than expected.

3. Speculators i.e. hedge funds and other money managers placing big bets on the price of oil.

No hints of any steroids

Filed under:Fuel cost,Fuel Price Trends,Gas price,Presidential Election | by Pump Girl @ 12:17 pm | 

February 7, 2012

$4 By May

 

Unleaded gas averages 3.48/gal these days and is likely to be going up.

We all know the refineries have to switch from the winter blend to the more expensive seasonal stuff to meet environmental standards. This tacks on a good 15 cents/gal.

Crude prices have gone down to $98/barrel, but those pesky tensions in the Middle East are heating up again.

Energy analyst Patrick DeHaan of price tracker Gasbuddy.com expects prices to rise to about $3.55 a gallon by the end of February and peak around $4 by Memorial Day weekend.

“You could see prices in Chicago, Los Angeles, New York, Washington and other major metropolitan areas at $4.60 or higher,” DeHaan says. “There’s definitely a limit how much it can go up. But the overall trend does remain higher.”

Filed under:Fuel Price Trends | by Pump Girl @ 8:15 pm |