Tuesday, May 15, 2007

gas prices

I heard on the news this morning that gas prices are at an all time high. $3.30 nationwide average. I still don't think they will make it to my earlier prediction of $3.60. And I predicted that for Texas, which is still just under $3 a gallon.

They also said it was aggravated by a high number of refineries out of service for spring maintenance, and quoted Shell as saying they had had "a couple" fires at refineries. Must have been small ones. I only heard about one, and I think it was BP.

I hear today is a "gas out," when we are supposed to abstain from buying gas for a day. That won't hurt them. Buy a 4 cylinder. If everybody did that, the oil companies would feel it.

In other humorous news, I heard a Citgo advertisement saying they:
"fuel our way of life"
I wonder how many people realize, they also fund the enemy.


UPDATE: the $3.30 above should have been $3.10
The market peaked early last year, but later this year, demonstrating a self correcting feature inherant in markets. I suspect strongly the (average national) price will remain above $3 a gallon for several more weeks. It will go down this fall, as it always does in the fall (sometimes late fall).

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