Chris's Rants

Tuesday, May 18, 2004

Screwed at the pump

Short Term Energy Outlook-Home Page:
"Actual spot prices for gasoline between early April and the first week of May increased by 20 cents per gallon or more (depending on the region), indicating that factors in addition to higher crude oil prices are now playing an important role in setting gasoline prices. Demand increases and lower-than-expected imports have put strong pressure on domestic producers and gasoline stocks to help meet the incremental demand for gasoline, contributing to higher production and acquisition costs. "
It's actually an increase of $0.25/gal here, now averaging over $2.00/gal in Mass. for the first time ever. No reason is given for the "lower-than-expected imports". Was someone asleep at the switch and forgot to order crude for May? OPEC production was actually exceeded production quotas by 2.3 million barrels a day according to the same report.

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