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February 2: Oil Hog sees shadow!

 

MEDIA ADVISORY - WILL THE BIG OIL HOG SEE HIS SHADOW?

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

"Lies, damned lies, and statistics!" ... Why statistics suggest a high price in 2010 of $4.32 a gallon for regular gasoline.

 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.

Gas prices surge past $3 mark, second highest price on record.

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."

 

2010 Gas Prediction: $3 a gallon may be the cheapest we see for a very long time

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." 

Gas prices edge below $3 a gallon

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.

Gas prices ready to drop like a thick brick

In the last month there has been a stunning rash of refinery closures and fires - any one of which should have sent gas prices upward - but with a flagging economy, a grim demand picture, and a glut of surplus, gas prices are destined to decline.

Local gas prices plunge despite massive refinery fires.

By Charles Langley - On Friday we reported that as much as 17% of the fuel manufactured in the State of California was threatened by two separate refinery fires.  Normally a disaster like this would result in near-instant price hikes, yet prices dropped over the weekend.

Gas prices expected to surge

Charles Langley - Today we are predicting that gas prices will increase another two to six cents by Thursday. We just confirmed that Tesoro's refinery (supplies Shell) in Wilmington is having problems.

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