Gas prices up 4¢ in 5 days. Big oil is back in business.
UCAN News
Now that the heat is off Big Oil is back
in business with aggressive price hikes.
Looking for cheaper gas? Visit our Gas Project at www.fueltracker.com
Today, UCAN's authoritative gasoline survey showed that gas prices in San Diego have reversed seven weeks of steady price declines. Since Monday, gasoline prices have risen 4¢ to a new regional average of $3.10 a gallon.
Earlier this year gas prices inexplicably dropped 20¢ prior to July 4, which is one of the biggest driving holidays of the year and a peak season for gasoline price gouging. UCAN believes that the reason prices dropped prior to the fourth of July was because the House and Senate have been debating a new energy bill that would have stripped billions in ridiculous tax breaks and corporate welfare for Big Oil (see New York Times). During the debates, prices have dropped, but now, the energy bill has stalled thanks to infighting in the House (see Earth Times) and a host of other, more urgent issues, such as war-time funding that have put energy on the back-burner.
The same thing happened prior to the crucial mid-term elections when the Saudis and the American oil industry teamed up to cut oil and gas prices prior to election day, November 7 (see UCAN's November 14, 2007 report) UCAN's survey showed that prices dropped from an average of $3.42 a gallon in May, to an all-time low of $2.40 a gallon on election day. UCAN's survey showed that prices stared climbing at 12 Noon on November 7, where they soon skyrocketed past the $3 mark.
UCAN calls this phenomona "Heat to Price," meaning that political heat, not market conditions, can set the price of oil and gasoline in the USA.
The solution? We need to break up what has become a refining cartel in California and the United States. When political concerns, not market conditions drive the price of oil it shows that too much gasoline is in the hands of too few competitors.
Gasoline Statistics for July 13, 2007 (Source: UCAN's CHEAP GAS LOCATOR)
Price Today = $3.10 a gallon
Price last Friday = $3.06 a gallon
This day last Month = $3.20
This day last Year (2006) = $3.32
This day two years ago (2005) = $2.63
Highest price ever in San Diego history = $3.50, Saturday, June 4, 2007
Gas & Autos Gas Prices - Oil Watch -
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