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it's the media's fault!
I'm just glad pump prices have fallen. I just don't know where these pumps are. $3+ for a gallon is just the new normal. Gas prices have risen 60-something percent under Obama and you hardly hear a peep about it.
it's the media's fault!
Gas prices are high because oil prices are high. Pretty simple, really.
Perhaps because gas also went down 45% or so under Obama?
Yeah, you definitely failed there. Wild Cobra owned you.
Big of you to admit it.
Awesome
http://abcnews.go.com/Business/gas-p...ry?id=15519576
And "distance to refineries" directly affects the price.
First, let me preface this by saying I understand that the President has absolutely nothing to do with gas prices....it didn't when Bush was President, and it still doesn't with Obama as President.
Now, having said that, I'm really surprised the media hasn't started running already with the gas price stories. I honestly believe that this is the one thing that can prevent Obama from a second term, and I haven't seen about it except a blip on local Austin news saying 's gonna go up.
The Repugs will take $100Ms from the oilcos (who just announced record profits) and then slander Obama and the Dems as being responsible for the high gas prices that pay for the Repugs' slander.
I'm sure the news stories will be there as spring approaches and the price escalates. Consumption (and thus prices) have always pretty much ed in the summer.
http://articles.latimes.com/2012/jan...rices-20120131Phil Weiss, senior analyst for energy for New York-based Argus Research, said the refinery closings were part of an industrywide move to reduce exposure to low-profit refinery operations. But the practical effect was to leave U.S. motorists with little or no supply cushion should any other refineries have to close because of mishaps or disasters.
So producers are voluntarily closing down refineries to increase profits.
Awesome, indeed.
http://www.mcall.com/business/mc-gas...tory?track=rss
Gas prices' earliest-ever rise above $3.50 a bad sign for motorists
American motorists have seen the national average for a gallon of regular gasoline rise above $3.50 a gallon on just three occasions, but it has never happened this early in the year. Analysts say it's likely a sign that pain at the pump will rise to some of the highest levels ever seen later this year.
In 2008, average gasoline prices had hit inflation-adjusted records nationally by the summer, but they didn't climb above $3.50 a gallon across the U.S. that year until April 21, according to the AAA Fuel Gauge Report. It happened again last year, but not until March 6.
But $3.50 a gallon gasoline is already here in 2012, weeks before refineries typically shut down for springtime maintenance, and weeks before the states switch from their less expensive winter blends of gasoline to more complicated and pricier summer blends.
"This definitely sets the stage, potentially, for much higher prices later this year," said Brian L. Milne, refined fuels editor for Telvent DTN, a commodity information services firm. "There's a chance that the U.S. average tops $4 a gallon by June, with some parts of the country approaching $5 a gallon."
Today, for example, the national average stands at $3.511, up from $3.480 a week ago, according to the AAA report, which gets its figures from prices compiled by the Oil Price Information Service.
The average in Pennsylvania is even higher: $3.63. According to GasBuddy.com, the cheapest gas in the Allentown area as of Tuesday was $3.49, at USA Gas on West Tilghman St.
There are plenty of reasons for the high prices, and lots of reasons to fear a big price e in the spring, said Tom Kloza, chief oil analyst for OPIS.
"Early February crude oil prices are higher than they've ever been on similar calendar dates through the years, and the price of crude sets the standard for gasoline prices," Kloza said, later adding, "We've lost a number of refineries in the last six months (to permanent closure). Some of those refineries represented the key to a smooth spring transition from winter-to-spring gasoline."
Some cities, like Los Angeles and New York, are already closing in on $4 a gallon, said Patrick DeHaan, senior petroleum analyst for GasBuddy.com.
The current national average is also 38.3 cents a gallon higher than the old record for Feb. 13, which was set last year.
Last year the predictions were that gas would be high this winter, and continue to increase throughout the year.
iow, the oil/gascos are manipulating the price, hurting the economy, (while enriching themselves) to defeat Barry.
I agree that they are manipulating price, hurting the economy, and enriching themselves, but I disagree that they are doing it to defeat Barry.
I think you're just a bit too long winded there because they are doing it for profit, and that is it. There is no underlying political reason, they are simply in it to make billions, regardless of who it hurts.
If the "oilcos" manipulated gas prices to benefit one party we'd see them driving prices down (and voluntarily cutting their own profit margin) to benefit that party when it's in the majority or faces reelection.
if energy companies actually do this it should be pretty easy to show.
oilcos have $Bs in profits and a cartel to hide completely their market/political manipulations, hiring the best and brightest bean counters and lawyers.
It's not easier to show that traders at 30% to the price of oil or food or anything. All hidden, secret, but "legal".
they can't hide gas prices
Geez guys, I don't know where all you've been getting your news, but increasing gas prices has been all over the local and national tv news where I am at the moment. They talked about how much gas prices have gone up in the last two months, and how high they are expected to go before then end of this year (record highs). They talked about the negative impact it will have on the economic recovery.
Thing is, gas prices have gone up every spring and summer for as long as I can remember. They go way up before labor day in anticipation of increased driving during the summer,and then drop after labor day because summer vacations are over.
The pattern of the timing of the increases is the same, but each time they go up, they go further up than they did in the prior year.
Having said all that, the OP was an extremely interesting article.
Food grains have gone up even more than oil...and naturally, energy and food are excluded when calculating CPI (inflation)
Do you (or does anyone else) know when the change in calculating CPI to exclude those items occurred? I know they make changes every few years, but I don't know when those went out.
Apparently media wasn't hiding this story after all...
Not where I am they aren't. It was complete at both national and local levels with the ever present interviews with consumers who are reacting to the 'pain at the pump' stuff. At the national level that included heating oil for northeastern folks.
My favorite was the guy in Colorado who said he hated the fact that it had gone up so much but he wasn't surprised by it. I thought "this guy has been paying attention."
When I was trying to find out when the changes to CPI were made I went to the Bureau of Labor Statistics and they had all the historical press releases saying what the CPI was at each month, but not when the changes to the calculations were made.
They did indicate that energy prices declined for the last three months of 2011, which may be why some of the increase now is being felt so keenly.
I think they are still included in the CPI...it's core CPI that exclude those and a few others.
Thanks, TB.
Whenever posters claim the media is hiding the ball at the behest of their putative political masters, the claim is almost always dispelled by posters who have been paying attention to the news, or who do a quick google search.
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