AAA: Gasoline Pump Prices Hit All - Time High

NEW YORK (Reuters) - U.S. average retail gasoline prices hit an all-time high on Tuesday as a tight-fisted OPEC policy and rising demand constricted supplies, according to the American Automobile Association.

The average price for regular gasoline at the nation's pumps was $1.738 per gallon, up less than a cent from the previous record hit last September, according to the motorist group's survey of more than 60,000 stations.

http://www.nytimes.com/reuters/business/business-energy-gasoline-retail.html

Goodbye, Oil President!

You really are loyal -- to the oil companies that spawned you.

Bush is going to use his influence with OPEC to get them to lower oil prices. :eyes:

But the real blame has to be placed at the doorsteps of the petroleum distribution and refining companies. Their incredibly-tightfisted "Just-In-Time" policies that lead to very little in reserve in the supply chain and their lack of reinvestment in new refining capacity and maintenance of existing infrastructure has done the real do in this price runup. Add to that the maladministration's continuing removal of oil supplies from the market, for storage in the Strategic Oil Reserves, and you can see why the prices, on the commodities exchanges, has skyrocketed.

Uhhh...just where the hell is all the Iraqi oil that was supposed to benefit us? Being held off the market is my guess.

It's just bidness, hoss. Just bidness.

even the saudis don't want george to win either.

tried to cast aspersions on Kerry by saying that Kerry voted for a fifty-cent gas tax -- and here we are with the highest prices ever under Shrub.

Something's wrong with this picture. Let's take it down and put up a new one.

...that the 50 cents would go toward fixing infrastructure and such rather than lining someone's already-full pockets.

and you all know what I'm talking about, I'm starting to wonder if OPEC would do something like they did in the 70's and that is shut off the spigots and hold us in an embargo.

They'd sure get their message out in a hurry. What would King George do? I shudder to think.

I really think we're heading in to one dangerous spring/summer.