
Some Los Angeles-area gas stations shut off their pumps because of rationing by suppliers, and they displayed makeshift signs explaining that the shortages were not their fault. Drivers formed long lines at stations that did have gas; some stations raised prices to more than $5 a gallon for regular gasoline.
California's average gasoline price set a record Saturday of $4.614 for a gallon of regular, up 12.8 cents overnight. Several service stations are charging more than $5 a gallon for regular gasoline.
Gasoline prices skyrocketed after the Exxon Mobil refinery in Torrance was knocked offline Monday by a power outage. Other lingering refinery and pipeline problems also contributed to the soaring costs at the pump.
Last month, police in the Antelope Valley were looking for thieves who stole gas from car and truck rental agencies.
Now, Police in Roseville are looking for gasoline thieves who struck two stations, taking nearly 1,000 gallons of the increasingly expensive fuel.
Gas prices set record: 1,000 days above $3 a gallon
By now every driver knows the drill: The price of gasoline ratchets up, there's an outcry among motorists who feel gouged at the pump and then things settle down as the higher price becomes the new normal.
Well, AAA has come up with a sobering statistic: the average price of gasoline will surpass $3 per gallon Tuesday for the 1,000th consecutive day. That's never happened before, the motoring organization says.
In case you're wondering, the current streak began on Dec. 23, 2010. Today, the national average for a gallon of regular is $3.52, according to AAA's daily price tracking service. That's a nickel a gallon less than the average so far this year. And unless there's another recession, AAA forecasts that a price floor of $3 a gallon is basically here to stay.
ROCKMAN wrote:JV - As a general rule the higher the price of oil the smaller the margins for refiners. Has always been such. Which is why the refiners are increasing their campaign against the export of US produced oil.
AndyA wrote:Which is very true, all consumption taxes are very regressive.
Subjectivist wrote:In 1993 President Clinton should have adopted the penny tax plan. Federal fuel taxes would increase one penny the first Monday of every month until the rates matched those in The EU. The gradual nature of the increase would give more than enough time for the population to gradually shift to more fuel efficient transportation over time. As fuel guzzling trucks and SUV's wore out they would be replaced with more efficient types. Now 21 years later our fuel tax would be around $2.50, still far below EU levels, but we wouldn't even notice a $1.00 change in fuel price much because the proportional change would be much less going from $5.50 to $4.50 than the change from $3.50 to $2.50
KaiserJeep wrote:That is enough of a price range to make a flex fuel engine option worth it
KaiserJeep wrote:IMHO, an engine that accepts E85 fuel can be fed longer than a conventional gas engine when oil gets too expensive for widespread use as fuel.
KaiserJeep wrote:Well, then think of the time before the oil shortage when corn subsidies still exist. You can buy an E85 fuel that gets 3/4ths the mileage for 2/3rds the price of gasoline or E10 fuel mixtures.
Synapsid wrote:Here in the central Puget Lowland there are a few Spirit gas stations. Today I checked the price for regular and found it $1.34 a gallon higher than at the 7 Eleven down the street ($2.55/gal), yet people buy gas there.
Not long ago while passing the station I saw on the pumps "Our gas is all gasoline. No ethanol."
I feel (obscurely) pleased.
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