Average Price of Gas Rises Nearly 12 Cents After Long Decline

[Americanhero1]

CAMARILLO, Calif. —  The average national price of gasoline rose nearly 12 cents in the past three weeks, marking the first price hike after six months of steady decreases, according to a national survey released Sunday.

The average price of regular gasoline Friday was $1.78 a gallon, oil industry analyst Trilby Lundberg said. The price of mid-grade was $1.91 a gallon and the price of premium was $2.02 a gallon.

The increase was the first since July 11, when the average national price peaked at $4.11 a gallon.

Of cities surveyed, the nation's lowest price was $1.34 in Billings, Mont. The highest price was $2.32 in Anchorage, Alaska.

http://www.foxnews.com/story/0,2933,479179,00.html

[briann]

Oil is at $40.00 a barrel right now.  If it goes deep into the 30's for an extended period of time, it will cause havoc in the Islamic sewer.

[דוד בן זאב אריה]

I've noticed too after weeks at 170 a gallon it is back to 200 a gallon.

[SavetheWest]

Since Israel has gone into Gaza, the price of oil has gone up a bit.  There may be two culprits here.  One is Iran, who relies on oil revenues and has been really hurt by the drop in oil prices over the past few months.  They know that an Israeli war with Hamas would raise the price of oil and Hamas is just one of their proxies. They could have prompted Hamas to attack Israel to bring the oil price up and get attention away from their nuclear program.   Then there is Russia, who has shut off some natural gas to Poland and Ukraine, resulting in many people freezing to death.  Russia and Iran may be working together to jack the price of oil up and get the money they were making over the summer for oil.