Thursday, and perhaps more at unbranded independently owned
gas stations, which could push the average price of gasoline below
Night Live TV character who always finds the cloud inside every
The cost of surplus gasoline has collapsed by 28¢ in the last seven
days. In a normal market, Southern California gas prices should be
dropping like a box of hot rocks, but they aren't ... instead we are seeing
what anti-trust investigators have called the "feather" effect, or what
economists call "sticky prices." When former California Attorney General
Bill Lockyer investigated California gas prices, his analysts said "In California
gasoline prices go up like a rocket and down like a feather."
In the next few days, Southern California gas prices at a handful of
Gasoline supplies are up . So are wholesale gas prices.
Gas prices will increase from 3 to 15¢ a gallon by Monday, and
it has nothing to do with Syria and a LOT to do with the fact that
almost 1/3 of California's refining capacity has been shut off.
Analysts like cause and effect, and when they don't know WHY
prices are going up they always reach for the latest current
event to explain the situation. If you hear analysts blaming
Syria for our high gas prices in the next few days, don't
believe a word they say. There is no correlation. Syria does
not supply California with any gasoline.
We are predicting that gas prices will surge from 5¢ to 17¢ a gallon by
Monday morning, June 24.