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Gasoline pump prices soaring on refinery repairs, oil rally

The Saratogian -- "Gas prices are rising at a faster-than-expected pace," Ash, an AAA spokesman in Washington, said in an interview Tuesday. "There's reason to suspect the peak we see will be earlier this year. We still expect they will peak at a lower level than in 2012," but they may approach that level, he said.

The EIA revised its forecast for 2013 gasoline prices up to $3.55 a gallon Feb. 12, from a $3.44 estimate in January.

The jump in gasoline futures has swelled the crack spread, a measure of refining profit. April-delivery gasoline's premium versus Brent was $21.85 a barrel, 53 percent higher than a year ago.

Schork predicts the retail average rise another 15 cents to 20 cents by the end of February. Prices then usually climb higher as the more-expensive summer-grade gasoline makes it way

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Submitted Feb 21, 2013 By: aservant

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gs7101 Champion Author San Antonio Posts:5,513 Points:387,470 Joined:Jun 2009	Message Posted: Feb 22, 2013 6:14:37 AM Ignore gs7101 Report Abuse Any excuse is better than none to increase oil prices.
sonicmustang All-Star Author Alberta Posts:637 Points:149,375 Joined:Dec 2010	Message Posted: Feb 21, 2013 11:42:19 PM Ignore sonicmustang Report Abuse More lip service
lesndave Champion Author Texas Posts:3,032 Points:699,430 Joined:May 2011	Message Posted: Feb 21, 2013 10:10:13 PM Ignore lesndave Report Abuse Blah blah blah
Mystikal1 Sophomore Author Akron Posts:228 Points:600,710 Joined:May 2011	Message Posted: Feb 21, 2013 8:29:02 PM Ignore Mystikal1 Report Abuse The EIA awoke from its Rip Van Winkle slumber to revise its gas price forecast by a mere 11 cents. Go back to sleep EIA. It is obvious your eyes are closed.
GatorGuy Champion Author Columbia Posts:2,225 Points:1,205,560 Joined:Jan 2009	Message Posted: Feb 21, 2013 3:05:01 PM Ignore GatorGuy Report Abuse Please peak already.
heydano67 Champion Author California Posts:1,661 Points:356,560 Joined:Feb 2012	Message Posted: Feb 21, 2013 2:04:26 PM Ignore heydano67 Report Abuse mo money out of my pocket
Double_Golden Champion Author San Francisco Posts:2,555 Points:603,660 Joined:Aug 2011	Message Posted: Feb 21, 2013 1:06:01 PM Ignore Double_Golden Report Abuse this is not the time for refinery repairs, just blend more gas to lower the prices...
EMoe57 Champion Author Jacksonville Posts:4,607 Points:1,014,090 Joined:Apr 2009	Message Posted: Feb 21, 2013 12:14:34 PM Ignore EMoe57 Report Abuse But SPECULATORS drive up the price
mageetp Champion Author British Columbia Posts:3,200 Points:624,680 Joined:Aug 2011	Message Posted: Feb 21, 2013 12:01:23 PM Ignore mageetp Report Abuse More spin equals high pump prices.
NightRider Champion Author Dallas Posts:1,390 Points:75,770 Joined:Apr 2012	Message Posted: Feb 21, 2013 11:51:45 AM Ignore NightRider Report Abuse The formula for the increased price of a gallon of gas: The amount of money the average person has left over at the end of the month divided by the average number of gallons of gasoline used. This equals the amount available for a price increase per gallon. Gas price increase equals up to 100% of this amount. Add a few pennies to the existing price and drive around, use GasBuddy or call the other stations to see their price. Share this information with all of the other stations in the area and everyone decide on what the price will be.
Mikeyman74 Sophomore Author Indianapolis Posts:109 Points:24,840 Joined:Feb 2013	Message Posted: Feb 21, 2013 11:34:13 AM Ignore Mikeyman74 Report Abuse At least we can vent for free.
Bud122CA Champion Author California Posts:7,461 Points:1,604,125 Joined:Jul 2008	Message Posted: Feb 21, 2013 11:30:40 AM Ignore Bud122CA Report Abuse No way to stop greed. They will use ANY excuse to jack up the prices.
mainenightowl All-Star Author Maine Posts:859 Points:304,270 Joined:May 2012	Message Posted: Feb 21, 2013 11:30:40 AM Ignore mainenightowl Report Abuse Then we will be at or over $4/gal here in Maine by the end of Feb. if prices are set to rise another 15-20 cents/gal. We are averaging $3.79-3.89/gal now for reg. here. It's the greedy speculators that are pushing these prices up more than anything, even refinery maintenance or summer-blend gasoline beginning to trickle into the market.
sivart Champion Author Arkansas Posts:18,213 Points:3,069,010 Joined:May 2004	Message Posted: Feb 21, 2013 11:18:50 AM Ignore sivart Report Abuse The other article said "crude inventory is up" so let's just shut down some refineries and that will cause the price at the pump to jump!!
mickealo Champion Author Spokane Posts:6,152 Points:2,142,485 Joined:Oct 2006	Message Posted: Feb 21, 2013 11:17:49 AM Ignore mickealo Report Abuse sure wish they could build more refinneries so when one is down they could just ramp up another so prices could be more stable instead of these big jumps up and down and now washington state is trying to raise state gas tax by .10 cents a gallon and we are already higher than most states
investmentdr Champion Author Cleveland Posts:4,019 Points:1,453,100 Joined:Sep 2008	Message Posted: Feb 21, 2013 11:16:38 AM Ignore investmentdr Report Abuse article out of date. oil and gasoline down another -2% today (-5% from highs last week)
IMLURCH Champion Author Minnesota Posts:2,174 Points:1,101,230 Joined:Mar 2009	Message Posted: Feb 21, 2013 11:16:25 AM Ignore IMLURCH Report Abuse Cut the bull in idiot terms WE ARE GETTING RIPPED OFF.
WILDCAT112 All-Star Author South Carolina Posts:907 Points:176,525 Joined:Aug 2012	Message Posted: Feb 21, 2013 11:14:28 AM Ignore WILDCAT112 Report Abuse just another way BIG OIL and this BIG OIL CONGRESS can keep gouging us
TopGunn Champion Author Baltimore Posts:9,176 Points:2,614,330 Joined:Aug 2004	Message Posted: Feb 21, 2013 11:14:09 AM Ignore TopGunn Report Abuse "Oil Rally" - same as 'speculator driven'!
gumbyrex Champion Author Fresno Posts:3,291 Points:757,340 Joined:Mar 2011	Message Posted: Feb 21, 2013 11:12:06 AM Ignore gumbyrex Report Abuse When are we going to build the new refineries we need?
ciimike Champion Author Nevada Posts:4,638 Points:1,062,060 Joined:Aug 2005	Message Posted: Feb 21, 2013 11:11:26 AM Ignore ciimike Report Abuse Always seems that refineries are down for repairs or maintenance whenever prices start to decrease.
bicycler Champion Author Ontario Posts:14,815 Points:2,598,445 Joined:May 2005	Message Posted: Feb 21, 2013 11:11:02 AM Ignore bicycler Report Abuse I am very suspicious of all those refinery breakdowns which cause so many gas price peaks which jump up and then dip only slightly:"Rocket up feather down, but only slightly"!
Grismer Champion Author Kitchener-Waterloo Posts:8,524 Points:1,722,095 Joined:Apr 2008	Message Posted: Feb 21, 2013 11:11:01 AM Ignore Grismer Report Abuse More excuses; more pain at the pump.
otherdave Champion Author Indiana Posts:3,383 Points:1,267,210 Joined:Oct 2008	Message Posted: Feb 21, 2013 11:08:30 AM Ignore otherdave Report Abuse Time for another exciting episode of "Screw the Consumer"!
chvytruk All-Star Author Kentucky Posts:771 Points:377,785 Joined:Sep 2006	Message Posted: Feb 21, 2013 11:07:40 AM Ignore chvytruk Report Abuse "......they will peak at a lower level than in 2012......." PEAK? at lower levels than last year??? Prices here are 3.79 and climbing, and somehow the speculation that prices will peak lower than last year is supposed to make us feel better?? This is OCE, pur and simple -- Oil Company extortion!
jpj23 Champion Author Los Angeles Posts:5,700 Points:1,097,750 Joined:Jul 2008	Message Posted: Feb 21, 2013 11:06:52 AM Ignore jpj23 Report Abuse "Refinery repairs." Oh, that old reason. How many times have I heard that?
joezIN Champion Author Gary Posts:1,663 Points:331,810 Joined:May 2011	Message Posted: Feb 21, 2013 11:05:44 AM Ignore joezIN Report Abuse always an excuse
paulydel Champion Author Delaware Posts:8,779 Points:847,450 Joined:Jan 2008	Message Posted: Feb 21, 2013 11:04:35 AM Ignore paulydel Report Abuse Thats the truth.
Wildman14 Champion Author Virginia Posts:3,675 Points:834,905 Joined:Jul 2008	Message Posted: Feb 21, 2013 11:03:41 AM Ignore Wildman14 Report Abuse What "arnerator" said.
arnerator Champion Author Seattle Posts:8,174 Points:1,616,190 Joined:Sep 2008	Message Posted: Feb 21, 2013 11:00:13 AM Ignore arnerator Report Abuse How convenient of them to manufacture a shortage.
Infamoussteve Veteran Author Illinois Posts:476 Points:40,340 Joined:Jan 2013	Message Posted: Feb 21, 2013 10:59:51 AM Ignore Infamoussteve Report Abuse Prices just started to drop....but will be back up by Monday
q2 Champion Author Alberta Posts:2,024 Points:378,145 Joined:Nov 2008	Message Posted: Feb 21, 2013 10:59:04 AM Ignore q2 Report Abuse old news
DutchTreatMI Champion Author Grand Rapids Posts:3,305 Points:749,965 Joined:Mar 2011	Message Posted: Feb 21, 2013 10:58:31 AM Ignore DutchTreatMI Report Abuse Gas prices are starting to come down a few cents a gallon in our area finally.
pricechecker08 Champion Author Ohio Posts:7,866 Points:1,698,750 Joined:Jan 2008	Message Posted: Feb 21, 2013 10:58:22 AM Ignore pricechecker08 Report Abuse refineries are shut for maintance to clean up and force prices higher.
NightRider Champion Author Dallas Posts:1,390 Points:75,770 Joined:Apr 2012	Message Posted: Feb 21, 2013 10:57:36 AM Ignore NightRider Report Abuse There is no NEED for gasoline prices to increase but there is GREED.
Bigtex09 Champion Author Dallas Posts:4,278 Points:1,157,335 Joined:Oct 2009	Message Posted: Feb 21, 2013 10:54:53 AM Ignore Bigtex09 Report Abuse i find myself driving a lot less, just cannot budget it into my expenses, might look into some govt free bees like the rest of the public gets, start with a free phone, housing, food... is ther a program for free gas yet?
NanookAK Champion Author Anchorage Posts:7,241 Points:1,439,065 Joined:Nov 2007	Message Posted: Feb 21, 2013 10:53:39 AM Ignore NanookAK Report Abuse Manipulating the market.
dwbuddy Champion Author Fort Worth Posts:1,822 Points:747,985 Joined:Dec 2010	Message Posted: Feb 21, 2013 10:53:11 AM Ignore dwbuddy Report Abuse more BS from the oil gurus....
BAJALRRP Veteran Author Tacoma Posts:431 Points:1,262,135 Joined:Oct 2005	Message Posted: Feb 21, 2013 10:52:31 AM Ignore BAJALRRP Report Abuse I'm staying home!
Sapper08 Champion Author Indianapolis Posts:1,059 Points:319,325 Joined:Mar 2012	Message Posted: Feb 21, 2013 10:51:37 AM Ignore Sapper08 Report Abuse There's no 3.55/gal fuel in Indy!
impactdi Rookie Author Michigan Posts:96 Points:427,905 Joined:May 2011	Message Posted: Feb 21, 2013 10:51:20 AM Ignore impactdi Report Abuse What does March oil futures have to do with the gas that's in the stations tanks today?
sciotosix Champion Author Dayton Posts:2,739 Points:664,175 Joined:Apr 2011	Message Posted: Feb 21, 2013 10:51:16 AM Ignore sciotosix Report Abuse Just another excuse.
homespesial All-Star Author Seattle Posts:710 Points:153,995 Joined:Oct 2012	Message Posted: Feb 21, 2013 10:50:51 AM Ignore homespesial Report Abuse interesting
packards42 Champion Author Washington Posts:6,435 Points:1,126,640 Joined:Feb 2005	Message Posted: Feb 21, 2013 10:49:01 AM Ignore packards42 Report Abuse Tell us about it diesel and premium are at the $4 mark now.
gasper Champion Author Edmonton Posts:4,480 Points:1,367,335 Joined:Mar 2002	Message Posted: Feb 21, 2013 10:46:14 AM Ignore gasper Report Abuse Marketing strategy raise the prices way high then drop them slowly so people think that they are getting a deal on fuel great way to pick your pocket.
wmderrick All-Star Author Twin Cities Posts:524 Points:469,125 Joined:Apr 2010	Message Posted: Feb 21, 2013 10:45:22 AM Ignore wmderrick Report Abuse How convenient.
MitchelSdReview All-Star Author South Dakota Posts:936 Points:198,970 Joined:Jun 2008	Message Posted: Feb 21, 2013 10:44:54 AM Ignore MitchelSdReview Report Abuse ok
f4driver Champion Author Maine Posts:2,520 Points:684,320 Joined:Aug 2007	Message Posted: Feb 21, 2013 10:44:04 AM Ignore f4driver Report Abuse "Gasoline pump prices soaring"....really? Who's the Mensa Society member who noticed that???
Cachase1 Champion Author Oklahoma City Posts:11,440 Points:2,378,155 Joined:Aug 2003	Message Posted: Feb 21, 2013 10:43:27 AM Ignore Cachase1 Report Abuse Rising prices, progress in the wrong direction.
drakeman70 Sophomore Author Vermont Posts:110 Points:41,215 Joined:Oct 2008	Message Posted: Feb 21, 2013 10:42:50 AM Ignore drakeman70 Report Abuse another 15 to 20 cents ups us way over $4 a gallon.