Refinery woes push up Midwest gas prices - USA Today

[Eugene]

Source: USA Today

Refinery woes push up Midwest gas prices
Updated 8h 36m ago

By James R. Healey, USA TODAY
The Midwest continues to get pounded by big jumps in gasoline
prices — so big that they have pulled the collective U.S. average
back above $3 even though prices elsewhere are lower and often
still falling.

Statewide averages in the Midwest zipped 5 cents to 7 cents a
gallon overnight, travel organization AAA reported Thursday.
Prices usually move less than 1 cent.

Problems at refineries in and near the Midwest have tightened
supplies enough to drive up wholesale prices, which kicks up
prices at the pump.

"We don't have any shortages. There's an adequate supply of
gasoline. But as inventories drop below the comfort level that
the market has established, prices go up," said Bill Holbrook,
spokesman for the National Petrochemical & Refiners Association.
NPRA tracks U.S. refining capacity.

-snip-

Read more: http://www.usatoday.com/money/industries/energy/2007-07-12-gas-prices_N.htm

[Tandalayo_Scheisskopf]

1. Congress needs to investigate...

Manipulation of the petroleum markets by the Seven sisters, in concert with the hedge funds. You can bet Big Oil has a lot of money in hedge funds.

[AndyA]

2. Either refinery woes, or a bear in the woods takes a crap - take your pick.

Either seems to inflate gas prices these days.

Of course, the oil companies think we're too stupid to figure out that we're being gouged. They cannot report the profits they've been reporting if they aren't overcharging us.

If it costs them more to buy the oil, transport it, refine it, etc., then their costs should go up. Which means it would eat into their profit levels unless they raise prices. So, they raise prices to keep their profit levels stable. Right? Wrong. Their profits are much, much, much higher today than they were 10 years ago.

Why?

Because they are gouging the public, and our government is doing nothing to stop them.

[HereSince1628]

3. We don't have any shortages, we just want to make a more comfortable

profit...

[fasttense]

4. Wart on corporation CEO's butt pushes up Midwest gas prices.

Any old excuse will do. Just as long as the bushes and the republic party have given the green light to oil billionaires to screw the American public.

[Strelnikov_]

5. Loss of 0.6% of nationwide refining capacity (Coffeyville KS)

results in a 17% price increase in the Midwest.

http://www.chron.com/disp/story.mpl/ap/fn/4957962.html

Nope, no supply problems here.

[Javaman]

6. woes, right, check and double check.

:eyes: