Thursday, February 25, 2010
Time for the annual Jawboning of the Gas Prices
As you may remember from years past, this is the season where all the "experts" and "pundits" tell us how much the price of gasoline will rise in the months ahead.
Your pocketbook is about to take another hit — gas prices are rising.If you keep track of the various estimates, you can determine what price the market manipulators have decided on. This years appears to be a modest jump probably because the major manipulators have moved on to raping the economies of whole countries and only the small players are doing gasoline anymore.
Within the past week, gas prices rose 21.2 cents per gallon, averaging $2.55 a gallon in Wichita. That's up 83 cents from last year at this time.
Experts say don't be too alarmed — just yet. Pump prices typically rise this time of year as refineries switch to a summer blend of gasoline, which is more expensive to refine.
"This is when we start to see the gasoline market go higher," said Darin Newsom, a senior analyst with the Omaha-based Internet trading firm, Telvent DTN.
Experts don't expect gas to hit $4 a gallon like it did in the summer of 2008, but several are predicting it could be above $3 per gallon.
"I'll be surprised if it got over $3.25," said Fred Rozell, retail pricing director at Oil Price Information Service.
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