Gas prices rise for 45 straight days

[steven johnson]

Source: USA Today

NEW YORK (AP) — Gas prices rose Friday for the 45th consecutive day as summer travelers hit the highways and refineries hold back on fuel production.

Retail gas typically rises with demand during the summer driving season. But this year those dynamics have changed somewhat. The government expects motorists to drive billions fewer miles as an expanding population of unemployed workers stays home.

Oil prices have more than doubled since March even though demand is down for the year and American storage tanks are bloated with a huge surplus.

And then there is the money flooding in from Wall Street. Investors fleeing the falling U.S. currency have parked a lot of money in commodity markets. Because crude is priced in dollars, it also gets cheaper for investors overseas.




Read more: www.usatoday.com/news/nation/2009-06-12-gas-prices_N.htm

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Supply and demand are irrelevant. Refiners operated at 85.9% capacity last week, which is very low for this time of year. Oil prices have more than doubled since March even though demand is down for the year and reserves are bloated.

Speculators are parking their money in oil, expecting the dollar to drop in value. With the Fed printing money, would you bet against them?

[RantinRavin]

1. Expecting ???

There is no doubt it is going to drop.

[madaboutharry]

2. Gas is down 7 cents around here.

Last week it was $2.84 a gallon and today it was $2.77. What a bargain.

[3waygeek]

3. Up and down here in Atlanta...

went down a bit earlier this week, then up again at the weekend. My local QT went from $2.329 last night to $2.499 this AM.

[bemildred]

4. Just remember the "free market" is completely objective.

There is no manipulation or speculation going on here, none.
:sarcasm:

[Deja Q]

11. +1000

[SpiralHawk]

5. "Smirk" - Republicon Homelander Oil Cronies

[NashVegas]

6. Oceans 13

When prices started coming down last election (just like they did around the 2006 elections), I felt what we were experiencing was a lot like one of the final scenes of that movie. The earth moves caused a faux earth quake that wasn't quite great enough to scare everyone out of the hotel, so they 'hit it again' until it did.

[merwin]

14. Prices fluxuate the same way every year.

With a few exceptions, gas prices drop dramatically in August/September every year and go up steadily in January.

[NashVegas]

15. Not *That* Much

Not by 50%, two election cycles in a row.

[rsmith6621]

7. Two Local Gas Stations Have....

......80% of their pumps covered up stating out of gas.......I went inside and told them yesterday...Bullshit!

[rsmith6621]

8. And when does President Obama.Say......

.....ENOUGH!!!!

[elocs]

9. Gas prices are important to me because ironically I have a USA Today motor route.

Gas where I live here in western WI is now a $2.73 a gallon and it was at $2.09 not that long ago.

[Xenotime]

10. It was 1.65 when President Obama took office now 2.83

I hope he doesn't let it go up any higher as I won't be able to afford it.

[Metta]

12. Rampant speculation again. Obama admin chicken to take steps.

Might offend big business. What else is new?

[dweller]

13. Get ready for the next 45 days. n/t

it is not going to be any prettier, b/c they can.

dp

[Hannah Bell]

16. or else they're trying to further crash the world economy. in the interests of consolidating it..

or in the interests of promoting war.