I filled up with $3.20 premium just three weeks ago, at a station with regular at $2.96. There was something of a minor gas war going on. This was Hess.
The wild spikes have been a unique feature of this economic environment since 2008. There is no price stability. There is nothing that has happened over the past week to warrant retail gas prices jumping forty cents a gallon. Nothing at all.
GS traders need their seven figure bonuses. They’ve been under recent criticism and scrutiny for speculation in ag commodities, thus driving up food prices leading to riots and near starvation in poorer parts of the world.
So, the vultures have alit upon oil futures once again, not that that explains retail spiking in such a pronounced way. In reality, it takes time for this sort of thing to filter through to reach retail.
But this isn’t reality. Oh, it’s real for people filling up their cars alright, but the rationalization behind it is fiction.
I wondered at the expenditure for digital LED gas price signs over the past few years, now I know. A ten cent or more swing between morning commute and lunch is the new normal.
Yep. It went up $.42 in the past week here in Northern MO. I was stunned, to say the least. And, like many, asking why this week? What happened to warrant such a price spike? It just makes no sense.