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Why are gas prices so high when the price of oil is low?
Question:
Oil was trading around the $35-$45 a barrel mark for over a month (February – March). Why was the price of gas per gallon going up without a significant jump in oil prices?
Answer:
At …

Today when I was driving past the gas station I noticed that, once again, gas had gone up. This time from $1.86 to $1.89, however when it came time tonight to write today’s posts, oil had fallen. Now, I know to take my own advice …

The United Steelworkers Union said today that it would give a 24 hour extension to U.S. refinery workers’ labor contracts. The move will delay a strike that would stop half of the United States refineries.
The contracts run up at midnight Sunday morning and the …

Yea…there was a HUGE hurricane to hit Galveston/Houston Texas…but what exactly is going on. There was no significant damage to Houston area refineries, but wholesale gas was trading at $4.75.
I, along with plenty of others, am calling this gouging. Not one of the …

96% of U.S. offshore oil production has shut down in preparation for Hurricane Gustav. The hurricane is also threatening many refineries littered around the Gulf Coast.
Three years ago when Katrina hit, gas jumped from around $2.40 to $3.06 a gallon. With supplies tighter …