"Gas prices continue to surge as wild rumors of problems with more than half of the refineries supplying California continue to drive up the futures price on gasoline. Prices on the wholesale "rack" continue to exceed the retail prices being charged on the street. This means that as dealers run out of their current inventories of "cheap" $2.13 per gallon gas, they'll be forced to replace it with gasoline that costs ten to twenty cents per gallon more. It looks as though a news record high of more than $2.30 a gallon is inevitable..
It is evident that we are seeing a repeat of the same situation we saw this time last year: problems in Iraq, high oil prices, and the addition of ethanol to our fuel supply have given the California Refining Cartel the plausible cover they need to continue their gouging.
...Got a problem widdat?