Gas Up
Well, it was for me, $3.439 per gallon for regular. Just filled up. Was $3.199 per gallon last time I filled up, same station, not quite three weeks apart. Expected to go higher too.
At the pump, meanwhile, gas prices rose another 2.1 cents Friday to a record national average of $3.577 a gallon, according to AAA and the Oil Price Information Service. Gas prices have been following oil futures higher, but are also rising due to concerns about whether gasoline supplies are adequate to meet peak summer driving demand.
Analysts expect gas prices to continue rising for at least another month to $3.70 to $4 a gallon. To a large extent, how high gas prices peak depends on what oil does.
Next higher grade was up there, they didn’t waste any time here raining the price. Why the rise? Today? Oh just this.
Oil prices rose sharply Friday on news that a ship under contract to the U.S. Defense Department fired warning shots at two boats in the Persian Gulf. Retail gas prices as expected rose further into record territory, nearing $3.60 a gallon.
Crude prices rose on initial reports that a U.S. ship had fired on two Iranian boats; the news raised concerns that a conflict between U.S. and Iranian forces could cut oil supplies from the region. A Navy spokeswoman said the origin of the boats was unclear.
Just what we needed, a provocative move by Iran. Not! Oil and gas prices are doing just fine going up on their own. Don’t need Iranian help.
The news was enough to send light, sweet crude for June delivery up to $119.55 before the contract retreated to settle up $2.46 at $118.52 a barrel on the New York Mercantile Exchange.
Least oil is still below $120 a barrel. Some consolation.










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