Did I miss something?

[imported_elp6n]

Did I miss something in the news? Were there some catastrophic events that have caused gas prices to first increase $0.15 in one increase (week or so ago), followed by another $0.10 increase (today)?

[BlueWahooChambordDevil]

oil prices topped $100 a barrel

[imported_elp6n]

A $0.25/gallon increase that quickly is boggling.

[89bluedevil]

There was a refinery explosion somewhere in the US also, I believe.

[1inStripes]

You are correct 89bluedevil. OPEC forcing the $ value of a barrel up combined with the oil refinery becomes a major hit to the wallet.

[imported_Coach]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: 1inStripes</div><div class="ubbcode-body">You are correct 89bluedevil. OPEC forcing the $ value of a barrel up combined with the oil refinery becomes a major hit to the wallet. </div></div>

.....also with no vasoline, a hit in the (censored).

[UTVols2]

That was a good one coach.....

....and if I wasn't so lazy I would just quit driving.

[NotSoSilentBob]

$3.10 everywhere along 81 from Kingsport to Kodak. Found some in Rogersville today for $2.93

Diesel is outrageous. $3.539 in Jefferson City.

[imported_elp6n]

We always feel the increase in the price of crude, but never the decrease it seems...


http://www.msnbc.msn.com/id/12400801/

SINGAPORE - Oil prices dropped Friday after a U.S. government report showed domestic crude inventories rose last week.

The decline, which began in the previous session, marked a reversal of a trend that had seen crude futures climb to a new trading record above $101 a barrel.

"The surge to $100 and beyond earlier this week was overdone,"? said Victor Shum, an energy analyst with Purvin & Gertz in Singapore. "It has little to do with oil market fundamentals and so it's not surprising that the oil market has pulled back."?

The Energy Department's Energy Information Administration reported Thursday that U.S. crude oil inventories rose 4.2 million barrels in the week ended Feb. 15, more than the 2.9 million barrel increase analysts surveyed by Dow Jones Newswires had expected.

Stocks of distillates, which include heating oil, fell 4.5 million barrels, three times the 1.5 million barrel drop forecast. Gasoline supplies rose 1 million barrels, in line with expectations, bringing gasoline inventories to a 14-year high and possibly limiting spring price increases.

Traders chose to focus on the crude number. Many analysts believe rising supplies and the falling demand noted in a number of recent reports means oil prices will eventually fall.

Light, sweet crude for April delivery lost 15 cents to $98.08 a barrel in Asian electronic trading on the New York Mercantile Exchange by midday in Singapore. The contract fell $1.47 overnight to settle at $98.23 a barrel.

March oil rose to a new settlement record of $100.74 and a new trading record of $101.32 before expiring Wednesday. Video

"The surge was really all attributed to investors getting into commodities in general as a safe haven from equities and credit markets,"? Shum said.

Prices have spiked in recent days on buying fueled in part by investors attracted to the oil market as a safeguard against inflation and a falling dollar.

Heating oil prices lost 0.59 cent to $2.7322 a gallon while gasoline futures declined 1.34 cents to $2.5086 a gallon.

Natural gas futures fell 2.1 cents to $8.87 per 1,000 cubic feet.

In London, Brent crude futures added 8 cents to $96.32 a barrel on the ICE Futures exchange.

[j10]

I could be feeling the prices worse, but luckily just before the jump i bought the cheapest used 30 mpg+ car i could find. Turns out the thing will more than pay for itself in less than a year.