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On This Day In History, Gas Prices Have Never Been Higher

Posted By yihan On February 1, 2013 @ 11:52 am In Featured Stories,Tile | Comments Disabled

Zero Hedge [1]
February 1, 2013

Between Hess’ plant closing and scheduled maintenance, the squeeze appears to be on the refining space and wholesale gasoline prices are smashing higher. Along with flares in geopolitical risk (Ankara today and Israel/Syria earlier in the week) driving underlying crude prices,  Gas prices (at the pump) are surging – to record highs for the first week of February as per AAA, hitting an all time high of $3.465 for this day [2]and just surpassing last year’s price of $3.455; and based on where wholesale prices are (given the lag), we could be seeing $4.00 gas at the pump in the next few weeks.

 

On This Day In History, Gas Prices Have Never Been Higher 20130201 Gas3 0 [3]

 

as Wholesale Gasoline prices rise at their fastest in almost two years…

On This Day In History, Gas Prices Have Never Been Higher 20130201 Gas2 0 [4]

 

and with Crude prices rising and wholesale gasoline being squeezed, could retail prices push back above $4.00 again?

On This Day In History, Gas Prices Have Never Been Higher 20130201 Gas 0 [5]

 

Charts: Bloomberg

 


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URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/2013-02-01/day-history-gas-prices-have-never-been-higher

[2] hitting an all time high of $3.465 for this day : http://fuelgaugereport.aaa.com/?redirectto=http://fuelgaugereport.opisnet.com/index.asp

[3] Image: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/01/20130201_Gas3.jpg

[4] Image: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/01/20130201_Gas2.jpg

[5] Image: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/01/20130201_Gas.jpg

[6] Gas prices hit $4 per gallon average across U.S.: http://www.prisonplanet.com/gas-prices-hit-4-per-gallon-average-across-u-s.html

[7] Gasoline cost to jump $700 for average household: http://www.prisonplanet.com/gasoline-cost-to-jump-700-for-average-household.html

[8] Gas prices expected to surge again soon: http://www.prisonplanet.com/gas-prices-expected-to-surge-again-soon.html

[9] Food prices to rise globally as energy prices edge higher: http://www.prisonplanet.com/food-prices-to-rise-globally-as-energy-prices-edge-higher.html

[10] Gas Prices Top $1-a-Gallon Higher than Year Ago; Media Don’t Blame Obama: http://www.prisonplanet.com/gas-prices-top-1-a-gallon-higher-than-year-ago-media-dont-blame-obama.html

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