From MSNBC:
Gasoline prices in the United States rose 6.65 cents per gallon over a two-week period, carried by the rise in crude oil prices stemming from the turmoil in Libya, an industry analyst said.
The national average for a gallon of self-serve, regular gasoline was $3.57 on March 18, according to the Lundberg Survey of about 2,500 gas stations…
I paid $3.69 a couple days ago. A bit of commentary from Zero Hedge on this:
More bad news for America’s motorists experiencing first hand the objectivity of the Nobel peace prize award committee: all those who were expecting a decline in gasoline prices following one of the fastest jumps in history will have to defer their dreams just a little longer. As Trilby Lundberg observes: “this weekend the world has changed. Instead of seeing the end of the price rise coming up, or even a decline, we might see a resumption of the climb at the pump.” …
Remember, we’re just about to enter the annual period when gasoline prices always rise – thanks mostly to insane, government regulations. Meanwhile, the Obama Administration remains wedded to “green energy” which translates in to “you’re screwed” to the average American.
We don’t need “green energy” – we need energy. We need oil wells pumping and refineries bringing product to market. We need a crash course in oil exploration, drilling and refining. We need full steam ahead on the new generation of nuclear reactors which are vastly more efficient and safer than those which collapsed in the Japanese earthquake/tsunami. Sure, we can still advance on research in to alternatives – but, for now, we need more of what we already have. Lots more of it – and in addition to just meeting needs, it would be a huge boost to wealth creation and employment if we did this. This, if any place, is where we should put “stimulus”…government stimulus is always inefficient, but at least if we were shoveling money at energy production we’d wind up with something tangible at the end of the day.
We won’t get this – not while Obama is President. So, buckle up, Americans…it is going to be a rough ride.
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