Forget about “Groundhog Day,” in San Diego, Feb 2 is “Oil Hog Day”

 This UCAN analysis shows why the law of averages suggests a high gas price for the year 2010 of $4.32 a gallon, PLUS, an outline of four techniques the oil industry is using to keep gas prices at artificially high levels.

By Charles Langley, Manager, UCAN Gas Project.  Early this morning gas prices edged above $3 in San Diego, passing an important psychological and economic benchmark. 

Typically, the price of gasoline in the first week of January is the lowest price of the of the year for at least the following nine months.

"This is definitely starting the year out on the wrong foot," says Charles Langley, UCAN Gasoline project Manager "and it appears that it is a lead foot pushing for higher gas prices."

By Charles Langley, Manager, UCAN Gas Project - "Supply and Demand" the two factors that are supposed to set prices in a market economy will have very little to do with the price of gasoline or oil in 2010. In fact, what we expect to see isn't "economics," it is something we call  "gougeonomics." 

The “Eddie Murphy” rule applied to crude oil: Goldman Sachs' attempt to corner the crude oil market

Charles Langley - Today UCAN's index of San Diego gas prices showed that regular unleaded had edged below $3 a gallon to a new average of $2.999, an incredibly slow decline for this time of year.

Under normal market conditions gas prices drop very quickly between October and mid-December, but this year, a highly questionable rash of refinery fires has limited the supply of gasoline in Southern California, keeping prices at artificially high levels.