Skip to comments.Gas prices jump back up in Hurricane Isaac's wake (Obama's fault, not a former hurricane)
Posted on 09/10/2012 4:29:53 AM PDT by tobyhill
Gas prices have jumped nearly 8 cents a gallon over the past two weeks, and are approaching the high for the year, according to a survey published Sunday.
The average price of regular is now $3.84 a gallon, just 13 cents below the peak that was reached this year in April, the Lundberg Survey found.
"It's due mostly, but not entirely, to storm-related refinery shutdowns," said publisher Trilby Lundberg.
Hurricane Isaac and the resulting power outages caused refineries to close, particularly in the Gulf region.
About a penny in the price jump is the result of a slight rise in crude oil prices, Lundberg said.
If crude oil prices remain stable, "then we will probably not see another rise in the next couple of weeks," Lundberg said.
(Excerpt) Read more at cnn.com ...
Nobody has explained why it is even $3.00 a gallon? Nothing has changed in 8 years. Syria and Egypt do not have oil. No one has attacked the Saudis or Iran.
All I can come up with is it Obama’s cronies making money on speculating.
The world now consumes 88.8 million barrels of oil. 8 years ago it consumed 81.5 million barrels. Demand is up significantly and we spend more to reach less accessible oil today.
——Nothing has changed in 8 years.———
The national debt has risen spectacularly. That is fundamental change
The rise in gas prices is not an increase in the value of oil, but a decrease in the value of the US$.
In 2008, 0bama promised $5.00 per gallon gasoline. Finally! A campaign promise fulfilled.
Filling up my truck the other day, I counted 26 reasons why I won’t vote for Obama, and why no one else should.