Here’s Your Little Cup O’ Cheerful This Morning
…to go with big, fat plate of hope and change
Oil Price Spike Likely ‘Within Months’: Charts Pro
An oil price spike is likely this year as 10-year volatility is below average and geopolitical risks are not properly priced in, Ron William, a technical strategist at Mig Bank, told CNBC.com.
How ’bout that. I watch the wholesale gasoline price like a hawk anymore, vice the oil per barrel, since it’s the gas that directly affects me the soonest. (They used to move in concert, but haven’t for some time.) While oil’s been burping all around the $90-$100/bbl range, price per gallon has been on a rock steady climb since Christmas from $2.49/gal to a shade over $3 this morning. Add 80¢-$1 to that for your “average” retail-at-the-pump price in a couple days. If you live in a city with those extra taxes or a barged-in fuel (aka “tough-to-get-petrol-to-ya”) spot like Pensacola, add another, well…whatever hurts the most. 50¢…$1 even?
Consider that the refineries haven’t even shut down for maintenance and reformulation yet. Wait’ll one has problems, or an accident…or a big, rumbly storm saunters along into the Gulf.
And that’s WITHOUT the geopolitical risk premium added in and the SOOPER GEENEEyus we have at the helm handling things.
Buy a Yugo.
Biz, Life, Nanny State, People, Politics | tree hugging sister | 
February 16, 2012 8:36 am
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Buy a Yugo? Not a Volt?
I keed! I keed!
Seriously, I’ve been watching gas prices at the pump rise up here. We’re at the “end” of the supply chain, so the price tends to be higher, but I am seeing around $3.30 per gallon, regular.
That “geopolitical risks are not properly priced in”? That’s newspeak for “Obama is screwing the pooch, so we’re going to screw you.”
Hells, I live in Texas where we pump the d—-d stuff out of the ground and make something useful out of it and it cost me about $3.28 / gallon two days ago. At one of the lowest priced stations in town.
I detect the subtle machinations of the bloody EPA – the new ‘cross-state pollution’ rules they’re in the process of implementing (along with God only knows what else) are a likely factore in the price spike. Besides the de facto moratorium on off-shore drilling and the demise of the Keystone pipeline, that is.
$3.53 for regular in town right this second.
I buy at the local co-op, mostly. It tends to be about a dime cheaper than most of the other stations. So, yeah, about the same, nationwide. Funny, dat.
Or get a horse.