Thursday, June 14, 2012

The gas price rollercoaster starts up again

Not much happened since the last time I wrote about local gas prices two months ago. Prices dropped slowly from $3.79 to $3.69 then to $3.65, which is where they remained for weeks. Pretty boring, that is until last week. Then, the corner gas station dropped its price to $3.55, something my wife told me. I decided to wait until Thursday to fill up, since prices usually go up Friday morning. I waited too long, as the price went back up to $3.65 Thursday evening. I still had enough gas for another week, so I wasn't worried. Besides, gas and oil prices were dropping nationwide, so what did I have to worry about? Famous last words. Yesterday, gas at the corner station jumped to $3.79. Meanwhile, oil prices are still low. What gives?

Just as I asked myself that question this evening, I saw the following video from WOOD-TV on my YouTube subscriptions page, which answered my question.

It's a local issue. Michigan is subject to supply disruptions from as far away as Texas, including refinery shutdowns, and there were two of them recently. Fortunately, both will soon be over, and gas prices will drop. As I'm fond of saying, that's good news, and it's not a suppository.

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