Monday, March 19, 2012

Oil Companies Have Us By The Tailpipes

Prices Still Rising Rapidly - Any Real Reason Why?

Average retail gasoline prices in Florida have risen 3.3 cents per gallon in the past week, averaging $3.81/g yesterday. This compares with the national average that has increased 4.3 cents per gallon in the last week to $3.80/g, according to gasoline price website

Some observers say gasoline retailers in recent months have been consolidating prices so that there's no large discrepancy between areas, so no charge of price gouging can be alleged.

Prices in Hendry and Glades County, Florida, for example, for years were five to ten cents higher than adjoining Lee county. In recent months though, Hendry/Glades prices have come to match prices in nearby counties. There does seem to be a gas price difference between states however.

Including the change in gas prices in Florida during the past week, prices yesterday were 27.3 cents per gallon higher than the same day one year ago and are 15.4 cents per gallon higher than a month ago. The national average has increased 28.6 cents per gallon during the last month and stands 27.9 cents per gallon higher than this day one year ago.

"Average retail gasoline prices will likely rise this week, after a surge in wholesale prices late last week," said Senior Petroleum Analyst Patrick DeHaan. "Some analysts believe gasoline prices may have peaked, but I am not at all confident in such words. I still maintain that prices will likely not peak until we get closer to the month of May, as a majority of locales around the United States make eventual switch overs to summer spec gasoline," DeHaan said.

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