Cost of Living by State.org » GAS http://www.costoflivingbystate.org Research the cost of living in your state Mon, 07 May 2012 23:55:05 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Californians get a break at the Pump http://www.costoflivingbystate.org/cost-of-living-comparison/cost-of-living-in-california-blog/californians-get-a-break-at-the-pump.html http://www.costoflivingbystate.org/cost-of-living-comparison/cost-of-living-in-california-blog/californians-get-a-break-at-the-pump.html#comments Tue, 22 Nov 2011 03:01:59 +0000 Bill http://www.costoflivingbystate.org/?p=399 Continue reading →]]>

Californians get a break at the Pump

Folks in California have something to shout about as gas prices fell 5.4c per gallon this week. California cost of living has been on the rise so this news offers a glimmer of hope. Gas prices are at $3.74 per gallon as opposed to $3.35 per gallon, the national average. Don’t get too excited though prices have to drop a lot more to fall below recent historic prices for November. In recent history, this week in 2007 recorded the lowest prices at $3.39 per gallon.

As of late diesel production is being favored over gasoline and refiners will boost production of distillate at the cost of gasoline production. So don’t expect this downward trend to last. Crude oil is currently at $97 a barrel.

Other Factors Impacting Crude Oil Prices

America’s S&P credit rating drop from AAA to AA+ last August. In the aftermath of this downgrade crude oil fell nearly twenty percent. One of the factors involved commodities traders selling of their stocks. This stunted the increase of crude oil prices and is one of the main reasons they remain under $100 per barrel this month.

Gas price Manipulation

Everyone wants to talk about gas price manipulation. So come on out conspiracy theorists because I’m throwing in an added bonus for you. Don’t know if you ever caught the documentary Gashole but as a side note watch it. It will feed your every conspiracy desire. Awesome documentary!!

In June of this year crude prices dropped roughly $22 per barrel lower then the $114 high of the Quarter. Almost immediately after, they shot up to $98. A lot of folks were screaming conspiracy.

How can oil prices be in such flux? The Federal Trade Commission (FTC) is asking the same questions and has started an investigation into the oil and gas markets. Yippee! Maybe they will make big oil executives swear in this time. (If you have seen Gashole you will know what I’m talking about)

The media as always being the tool that it is, claims fluctuations in oil prices can be attributed to the Japanese earthquake and tsunami, and as usually events in the Middle East.

What do you think! Follow me on Twitter @followbillbaker

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