Fuel Prices - 8/31/05

After reading a number of incidences of gas shortages across the east coast, I thought it might be a good idea to fill up before it hits here. So far, everyone in town has enough fuel to sell, but can’t say how long that will last. The prices have taken quite a leap in the aftermath of Katrina. I’m sure the oil companies’ profits are still doing just fine.

Interesting to note that Global gas, supposedly the cheapy gas in town, is now the most expensive.

(Figures in parentheses are prices as of last check on August 21)

Global
Regular: $2.99 (2.59)
Mid-Grade: $3.15 (2.69)
Premium: $3.27 (2.79)

Citgo
Regular: $2.85 (2.65)
Mid-Grade: $2.95 (2.75)
Premium: $3.05 (2.91)

Mobil
Regular: $2.75 (2.67)
Mid-Grade: $2.89 (2.81)
Premium: $2.99 (2.91)

Shell
Regular: $2.81 (2.68)
Mid-Grade: $2.91 (2.80)
Premium: $3.03 (2.93)

Sunoco
Regular: $2.79 (2.66)
Mid-Grade: $2.89 (2.79)
Premium: $2.99 (2.89)

What I haven’t heard explained yet is what good releasing oil from the strategic oil reserves will do if the refineries are still offline without power. And just how much damage was done to the rigs in the Gulf?

While it may seem crass to focus on oil and gasoline while so many people are suffering and dying in the Gulf coast region, I suspect that as the gas prices and shortages increase, it will finally occur to many, many people that the tragedies along the Gulf coast are not just regional. It is a tragedy that affects everyone across this country. Perhaps that would help mobilize a little more interest in getting something done? I’m appalled at the slowness of the Federal response.