So--we woke up today to 10% higher gas prices

[Wednesdays]

My sigother says "And they say there's no explanation for it."

Huh. Actually, I think there are plenty of good reasons for it:
http://www.democraticunderground.com/10022845730
http://www.democraticunderground.com/10022792757
http://www.democraticunderground.com/10022792808
http://livewire.talkingpointsmemo.com/entry/dow-jones-reaches-15-000-for-first-time

But of course that won't matter. The meme will be that Obama screwed us with higher fuel costs.

[NYC_SKP]

1. Any time refineries get shut down, prices go up.

Two refineries near Chicago have been shut down for maintenance, won't reopen until after Labor Day.

When refineries shut down, less product is available (supply and demand). They need to collectively sell less product or else stations will have to shut down.

There's going to be less refined fuel available through the end of the month, and Great Lakes regions may be hit hardest.

Expect prices to rise further.

http://www.kare11.com/news/article/1025954/391/Minnesota-nears-record-high-gas-prices

[Wednesdays]

2. I see what you mean, but to the general public that's "TLDR"

It'll all come down on Obama's head. Mark my words.

[leftyladyfrommo]

3. Didn't I just read that we have more fuel in reserve than we have had

for the last 30 years?

Did I just make that up in my sleep?

Our prices are way up here in Kansas City. We were down to $3.29 and now I think we are back up to $3.70. In just a couple of weeks.

[NYC_SKP]

4. Yes, doesn't matter. That reserve is unrefined petroleum.

The high prices are because of decreased refinery capacity.

[leftyladyfrommo]

5. Oh. Shows you what I know.

Aren't we selling petroleum now?

I would think that was a good thing in the long run.

[Wednesdays]

6. And two weeks ago they were blaming the cold weather

Which affects corn production, which affects ethanol prices.
So, which is it? And what's going to be the reason next week?

[NYC_SKP]

7. The U.S. became a (slight) net exporter (exported more than we imported) of refined petroleum goods.

However, we are a net importer of crude oil most of the time, with some exceptions when we might export more than we import in a given week or month.

We buy, we sell, some of it is just on paper, and the numbers need to be adjusted for whether or not its actually extracted here.

More complicated than it ought to be, but it's the nature of a commodity that takes different forms (crude vs refined) and that has so many origins.