Le Jacquelope
Loves Spam
- Joined
- Apr 9, 2003
- Posts
- 76,445
Gasoline demand is way down and yet gasoline prices are going up? What ever happened to that supply and demand bullshit? Oops. Gasoline producers are idling refineries to drive up prices.
http://www.wjbf.com/jbf/news/consumer/article/gasoline_prices_push_toward_2_per_gallon/10802/
AAA South
Published: February 9, 2009
TAMPA, Fla. (Feb. 8) - The disconnect in fuel pricing continues as crude oil prices on the New York Mercantile Exchange (NYMEX) remain in the low $40s (per barrel), but retail gasoline prices edge higher day after day.
Contributing to the steady increase in retail gasoline is the low output of our nation’s refineries. Although it is common at this time of year for refineries to temporarily take units offline for seasonal maintenance, the Department of Energy states the nation’s refinery output levels of 82.4 percent (of capacity) last week and 83.4 percent this week are the lowest output levels seen in January or February since 1992.
"Gasoline price increases under the current circumstances are especially frustrating to the public," said Gregg Laskoski, managing director of public relations, AAA Auto Club South. "A recession and rising unemployment translates into fewer motorists on the road and diminishing fuel consumption, and yet, retail prices climb higher."
Nationwide the average price of one gallon of unleaded regular gasoline increased from $1.845 to $1.867; in Florida the average price increased from $1.906 to $1.930; in Georgia the average price increased from $1.749 to $1.773 and in Tennessee the average increased from $1.717 to $1.745; all since Friday.
Crude oil closed Friday on the NYMEX at $40.17 per barrel.
http://www.wjbf.com/jbf/news/consumer/article/gasoline_prices_push_toward_2_per_gallon/10802/
AAA South
Published: February 9, 2009
TAMPA, Fla. (Feb. 8) - The disconnect in fuel pricing continues as crude oil prices on the New York Mercantile Exchange (NYMEX) remain in the low $40s (per barrel), but retail gasoline prices edge higher day after day.
Contributing to the steady increase in retail gasoline is the low output of our nation’s refineries. Although it is common at this time of year for refineries to temporarily take units offline for seasonal maintenance, the Department of Energy states the nation’s refinery output levels of 82.4 percent (of capacity) last week and 83.4 percent this week are the lowest output levels seen in January or February since 1992.
"Gasoline price increases under the current circumstances are especially frustrating to the public," said Gregg Laskoski, managing director of public relations, AAA Auto Club South. "A recession and rising unemployment translates into fewer motorists on the road and diminishing fuel consumption, and yet, retail prices climb higher."
Nationwide the average price of one gallon of unleaded regular gasoline increased from $1.845 to $1.867; in Florida the average price increased from $1.906 to $1.930; in Georgia the average price increased from $1.749 to $1.773 and in Tennessee the average increased from $1.717 to $1.745; all since Friday.
Crude oil closed Friday on the NYMEX at $40.17 per barrel.
