Pump price highest in month: government

[UpInArms]

Source: Reuters

WASHINGTON (Reuters) - U.S. retail gasoline prices jumped almost a nickel over the last week to the highest level in a month as tight motor fuel supplies threatened to send pump costs higher, the government said on Tuesday.

The national price for regular gasoline rose 4.7 cents to $2.80 a gallon, up almost 7 cents from a year ago, the federal Energy Information Administration said in its weekly survey of service stations.

The rise in gasoline prices mirrored a drop in U.S. fuel inventories to the lowest level ever recorded by the government in terms of demand, meeting just 20 days of expected gasoline consumption.

Total U.S. gasoline inventories over recent weeks have fallen by more than 12 million barrels to just under 193 million barrels during the previous week, a bigger decline than normally seen at this time of year, according to the EIA.

<snip>

In the EIA's new weekly price survey, retail gasoline was again the most expensive in the Midwest, up 13.3 cents to $2.97 a gallon. Among major cities, Chicago had the highest gasoline costs at $3.20, up 17.1 cents. Cleveland came in second at $2.98 a gallon, up 17.4 cents

Read more: http://www.reuters.com/article/businessNews/idUSN0442852520070904?feedType=RSS&feedName=businessNews

[DemReadingDU]

1. Price of gas in SW Ohio jumped 35 cents today

From $2.74 to $3.09.

:wow:

[jaksavage]

2. Gas is a scam

Oil is @ $73
and reserves are down
why aren't 'fair market' prices driving up the price?
in Oregon our fuel is 50 cents below its highs.

Personally I'd vote for 5 buck gas
if the taxes went to emissions reduction
buy and destroy old smoker cars,outlaw 2 stroke motors,
encourage people to be responsible consumers
we would all work together and the world would be at peace

not in this lifetime

[Lex1775]

3. That sucks for the Midwest..

Out here in the Phoenix suburbs gas prices are still dropping. The station by my house had 87 regular for $2.35 on Monday.

[ohio2007]

4. Don't worry, when the local gas bosses get back from their extended Labor Day vacation

they'll jump on the Hurricane price hike bandwagon.