Gas prices expected to rise at pump

[oberliner]

Source: AP

NEW YORK - Gasoline futures extended their rally Friday, raising the prospect that prices at the pump will reverse course and again head higher in the coming weeks. Oil futures moved above $68 a barrel.

Retail gasoline prices, which typically lag the futures market, fell again by 1.4 cents overnight to a national average price of $3.029 a gallon, according to AAA and the Oil Price Information Service. Prices peaked at $3.227 a gallon on May 24.

"Unfortunately, I think this is about as good as it gets," said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service.

That's because gasoline futures have risen sharply in the wake of a government report on Wednesday that shocked traders by showing gasoline inventories remained flat as refineries used less of their capacity than they had the week before.

Read more: http://news.yahoo.com/s/ap/20070615/ap_on_bi_ge/oil_prices;_ylt=AgRzUe.tu2lNdUqdN2nsL1ms0NUE

[mike_c]

1. oh goody-- just in time for me to drive half way across the country....

:grr:

[tridim]

2. "Gasoline inventories remained flat as refineries used less of their capacity"

There's your problem. Criminals in the oil refining industry.

I'm so sick of this bullshit.. DO SOMETHING ABOUT IT CONGRESS!

[jaksavage]

5. What!

The oil companies are corrupt?

[liberal N proud]

3. Well we are two weeks from the 4th of July week

Since the Fourth is in the middle of the week, many will take the full week (my self included)

I have two trips half way across the country in the next 3 weeks. Tonight I leave for Missouri for the week, then I have to return for a week and the week of the Fourth I will be in Iowa for a class reunion.

[Orsino]

4. They can stop running that headline now.

We're running our of oil. Gas is going to trend upward as long as it is being refined.

[Historic NY]

6. If they won't refine gas perhaps its time to nationalize...

the entire industry. Were in a war and its become a national emergency.