Romeoville Gas Prices Far Exceed Average
CNN Money reported Monday the average price for a gallon of gasoline in America is $3.73. Locally, the lowest price found was $3.94.
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The average price for a gallon of regular gasoline in America, according to CNN Money, has jumped more than 13 percent over the past 32 days, to $3.73.
In Romeoville, the news is worse. Prices are exceeding the average by anywhere from 22 cents to 29 cents per gallon, a check of prices posted at about 6:45 p.m. for on gasbuddy.com showed.
Gas prices ranged from $3.94 at all of the stations along Independence Boulevard to $4.01 at the BP station at 418 N. Weber Road.
CNN Money is crediting the price increase to a combination of factors, including rising crude oil prices, production cuts and refinery closings.
The Chicago Tribune reported last week a number of refinery issues in the area have affected gas prices, including an overhaul of BP's Whiting refinery and a fire at a refinery in Ohio.
AAA predicts local refinery issues will continue to push gas prices up in the months to come, according to the Tribune article.
Jeffrey
9:39 am on Wednesday, February 20, 2013
Until someone stops the trading on Nymex, this will never stop. Here's the daily report on crude oil from CME Group:
http://www.cmegroup.com/education/market-commentary/energy/2013/02/pre-open-crude_800.html
Read paragraph 5 on how the RBOB contracts are overbought and there will be selloff's for profits. In paragraph 8, they are calling for a crude surplus. The problem is that no one knows what will happen. If you read the entire report, it's filled with what if's and theories.
They should go back purely to supply/demand modeling. In paragraph 10 they talk about a gasoline stock surplus of 6.7m barrels vs the 5 year average yet prices keep going up!!!