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Why Gasoline Prices Could Keep Moving Higher

CNN -- Drought in the U.S. Midwest and rising tensions in the Middle East could keep upward pressure on gasoline prices this summer.

Retail gasoline has been rising daily since late June, with the national average reaching $3.44 per gallon Friday, up from $3.38 the week earlier, according to AAA.

While still expected to ease in the fall, prices at the pump this summer will be higher than expected, in part due to the sharp jump in ethanol prices and rapid increase in crude prices, as tensions between Iran and Israel have once more increased.

Nymex crude gained 5 percent in the past week to $91.44 per barrel. Oil has risen in seven of the past eight trading days.

As the drought has driven corn prices higher, ethanol, made of corn, has also been on the rise. Spot corn rose above a record

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Submitted Jul 21, 2012 By: mastermariner

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honda0105 Champion Author Tallahassee Posts:18,590 Points:1,606,595 Joined:Nov 2008	Message Posted: Jul 23, 2012 4:59:44 AM Ignore honda0105 Report Abuse prices have already moved higher and there was NO reason. oh wait, there is... greed.
Cashless Champion Author Akron Posts:3,500 Points:731,155 Joined:Apr 2011	Message Posted: Jul 22, 2012 10:26:08 AM Ignore Cashless Report Abuse Oh yeah, now I get it.
carinthuist Champion Author San Francisco Posts:2,226 Points:326,985 Joined:Mar 2012	Message Posted: Jul 22, 2012 10:20:04 AM Ignore carinthuist Report Abuse Yes it seems that way on a daily basics gas prices.
jrs4125 Champion Author Indiana Posts:2,738 Points:587,745 Joined:Sep 2011	Message Posted: Jul 22, 2012 5:28:41 AM Ignore jrs4125 Report Abuse Of course prices are going to go higher. We're talking about finite resources.
ClarkSC Champion Author South Carolina Posts:3,063 Points:1,008,480 Joined:May 2010	Message Posted: Jul 22, 2012 5:18:14 AM Ignore ClarkSC Report Abuse Obama!
Ply440GTX All-Star Author Texas Posts:949 Points:309,130 Joined:Feb 2009	Message Posted: Jul 22, 2012 1:57:49 AM Ignore Ply440GTX Report Abuse ...honeymoon's over.
LaVonneK Champion Author Iowa Posts:2,925 Points:622,750 Joined:Jul 2011	Message Posted: Jul 22, 2012 12:03:12 AM Ignore LaVonneK Report Abuse Not good news.
WalRus49 Champion Author Boston Posts:4,060 Points:865,940 Joined:Nov 2010	Message Posted: Jul 21, 2012 11:43:12 PM Ignore WalRus49 Report Abuse More organized mayhem and pillage............
DrLyon Champion Author Michigan Posts:6,635 Points:1,208,205 Joined:May 2006	Message Posted: Jul 21, 2012 11:29:01 PM Ignore DrLyon Report Abuse Coming to a station near you....
crreed1 Champion Author West Virginia Posts:1,970 Points:2,523,410 Joined:May 2005	Message Posted: Jul 21, 2012 11:28:00 PM Ignore crreed1 Report Abuse 3.59 here
Ken2OD Champion Author Grand Rapids Posts:9,052 Points:1,967,940 Joined:Dec 2005	Message Posted: Jul 21, 2012 11:25:49 PM Ignore Ken2OD Report Abuse I'm detecting a major drought in my wallet.
heartbroken2010 Champion Author Ottawa Posts:4,329 Points:894,610 Joined:Aug 2010	Message Posted: Jul 21, 2012 11:23:26 PM Ignore heartbroken2010 Report Abuse no why, it will.
Bigwaynef Champion Author South Carolina Posts:11,451 Points:2,077,835 Joined:Dec 2006	Message Posted: Jul 21, 2012 11:20:42 PM Ignore Bigwaynef Report Abuse Obama likes it when it's good an high...
Mermaan Champion Author Boston Posts:1,572 Points:421,235 Joined:Apr 2011	Message Posted: Jul 21, 2012 11:18:39 PM Ignore Mermaan Report Abuse It's always moving higher
umitb Champion Author Indianapolis Posts:3,659 Points:840,415 Joined:Apr 2010	Message Posted: Jul 21, 2012 11:16:19 PM Ignore umitb Report Abuse ok
CivicMA Champion Author Boston Posts:1,882 Points:531,520 Joined:Jun 2011	Message Posted: Jul 21, 2012 11:14:51 PM Ignore CivicMA Report Abuse . . . because they can!! It really is that simple. We have no choice but to pay it. It's been going up 2-4 cents/day!
jrschl Champion Author Louisville Posts:2,952 Points:677,840 Joined:Jun 2011	Message Posted: Jul 21, 2012 11:14:46 PM Ignore jrschl Report Abuse Because they want them to.
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Jul 21, 2012 11:14:18 PM Ignore tedjm1 Report Abuse They should back off on the ethanol and use the corn for food. Vastly more important.
rawdog1313 Champion Author Lexington Posts:3,284 Points:1,639,880 Joined:May 2008	Message Posted: Jul 21, 2012 11:13:31 PM Ignore rawdog1313 Report Abuse Regulate Oil Speculation!
ILANGE9 Champion Author Illinois Posts:7,595 Points:1,593,200 Joined:Sep 2008	Message Posted: Jul 21, 2012 11:13:09 PM Ignore ILANGE9 Report Abuse We are being conditioned to accept higher prices as a given.
DeeMamma88 Veteran Author San Bernardino Posts:352 Points:279,855 Joined:May 2012	Message Posted: Jul 21, 2012 11:12:45 PM Ignore DeeMamma88 Report Abuse Any excuse to raise prices
ILANGE9 Champion Author Illinois Posts:7,595 Points:1,593,200 Joined:Sep 2008	Message Posted: Jul 21, 2012 11:12:04 PM Ignore ILANGE9 Report Abuse We are being conditioned to accept higher prices as a given.
yakstar Champion Author Montreal Posts:2,405 Points:476,720 Joined:Jan 2012	Message Posted: Jul 21, 2012 11:11:36 PM Ignore yakstar Report Abuse lower the prices and save the economy!
bkplenge Champion Author Tallahassee Posts:1,616 Points:121,310 Joined:Sep 2005	Message Posted: Jul 21, 2012 10:57:46 PM Ignore bkplenge Report Abuse Why prices could rise higher? Because speculators have fresh, new excuses to use.
carranco Champion Author Georgia Posts:1,027 Points:267,390 Joined:Dec 2008	Message Posted: Jul 21, 2012 9:53:33 PM Ignore carranco Report Abuse The only good thing about rising prices is that it will help to boot the one out of the white house.
esq262 Champion Author Asheville Posts:2,882 Points:644,490 Joined:Jul 2011	Message Posted: Jul 21, 2012 8:54:34 PM Ignore esq262 Report Abuse You bet they will.
dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: Jul 21, 2012 6:07:15 PM Ignore dh0770 Report Abuse Because the manipulators use any excuse to steal....that's all that needs said!
exyouen Veteran Author Philadelphia Posts:309 Points:399,465 Joined:Jul 2011	Message Posted: Jul 21, 2012 5:27:44 PM Ignore exyouen Report Abuse in a couple months when the price falls again there'll be an article "why gasoline prices could keep dropping"... gas prices = a joke
Burner123 Champion Author Texas Posts:13,834 Points:2,478,665 Joined:Mar 2005	Message Posted: Jul 21, 2012 5:27:01 PM Ignore Burner123 Report Abuse Supposedly a part of the problem is corn, corn used to make ethanol. The corn crop is to be very poor this year. Take the ethanol out of the gasoline and we will be fine and our vehicles will perform better.
Tehbob Champion Author California Posts:2,276 Points:453,605 Joined:Jan 2012	Message Posted: Jul 21, 2012 5:19:38 PM Ignore Tehbob Report Abuse k
schatzila Champion Author Los Angeles Posts:4,929 Points:1,012,620 Joined:Jun 2010	Message Posted: Jul 21, 2012 5:01:20 PM Ignore schatzila Report Abuse It's going up because it wants to.
PurplepassionNC All-Star Author North Carolina Posts:838 Points:157,310 Joined:Mar 2012	Message Posted: Jul 21, 2012 3:54:02 PM Ignore PurplepassionNC Report Abuse It was so nice to see the gas prices dropping everyday all around. Now I hate to look at the prices every day going up.
abk Champion Author Utah Posts:1,790 Points:654,025 Joined:Jan 2010	Message Posted: Jul 21, 2012 3:48:18 PM Ignore abk Report Abuse The Midwest is only excuse because of stupid ethanol.
Alfied Champion Author Riverside Posts:7,920 Points:1,752,260 Joined:Jun 2001	Message Posted: Jul 21, 2012 2:43:58 PM Ignore Alfied Report Abuse Up and down, up and down, makes the world go around.
jlf599 Veteran Author Kentucky Posts:339 Points:126,925 Joined:May 2012	Message Posted: Jul 21, 2012 2:09:00 PM Ignore jlf599 Report Abuse Because the speculators want to make more money...
Digger52 Champion Author Chicago Posts:2,387 Points:845,685 Joined:Aug 2008	Message Posted: Jul 21, 2012 12:53:57 PM Ignore Digger52 Report Abuse "Why?" - No good reason. . . just because
ss70 Champion Author Detroit Posts:9,630 Points:1,866,100 Joined:Sep 2005	Message Posted: Jul 21, 2012 11:24:45 AM Ignore ss70 Report Abuse they are never lower this year
clpassenubye Champion Author Los Angeles Posts:3,359 Points:750,755 Joined:Mar 2011	Message Posted: Jul 21, 2012 11:22:54 AM Ignore clpassenubye Report Abuse more excuses
amerk73 Champion Author Dallas Posts:7,030 Points:1,618,055 Joined:Oct 2008	Message Posted: Jul 21, 2012 10:57:36 AM Ignore amerk73 Report Abuse not fair price for gas it should below $2.50
DerHahn Champion Author Illinois Posts:13,688 Points:2,110,885 Joined:May 2004	Message Posted: Jul 21, 2012 10:54:49 AM Ignore DerHahn Report Abuse bottom line reason stays the same. speculators (bankers) greed.
19sheldon43 Champion Author Los Angeles Posts:3,979 Points:843,010 Joined:Jul 2009	Message Posted: Jul 21, 2012 10:30:10 AM Ignore 19sheldon43 Report Abuse My corner station is going up so fast I'm getting a headache from my spinning head. No reason given he's just keeping up with the other stations in the area
kirzon484 Champion Author Atlanta Posts:1,851 Points:429,510 Joined:Jun 2011	Message Posted: Jul 21, 2012 10:28:02 AM Ignore kirzon484 Report Abuse k
Jeff4U Champion Author Atlanta Posts:8,728 Points:1,849,120 Joined:Nov 2004	Message Posted: Jul 21, 2012 10:26:45 AM Ignore Jeff4U Report Abuse Keep raising the price, so maybe people will be pissed-off enough to get rid of that socialist clown next November!
Shadowwarrior All-Star Author Pennsylvania Posts:921 Points:2,017,695 Joined:Oct 2005	Message Posted: Jul 21, 2012 10:23:21 AM Ignore Shadowwarrior Report Abuse Greed
bell05 Champion Author Atlanta Posts:9,240 Points:1,872,935 Joined:Jun 2005	Message Posted: Jul 21, 2012 10:19:51 AM Ignore bell05 Report Abuse I understand texashoudini. Yesterday, the lowest reported gas in Ga was at $2.99 [a long way from me] and highest around $3.85! Mostly around me in Rome, Ga prices were between $3.31 to 3.46 on the average!
uptherefiners Champion Author Chicago Posts:5,048 Points:1,002,000 Joined:Jun 2006	Message Posted: Jul 21, 2012 10:14:54 AM Ignore uptherefiners Report Abuse and to think that two weeks ago chicken little was screaming about the sky falling
fieldt Champion Author Lansing Posts:3,915 Points:725,725 Joined:Mar 2011	Message Posted: Jul 21, 2012 10:08:51 AM Ignore fieldt Report Abuse Grrrrrr....
KrsnaDragon Champion Author Montreal Posts:2,392 Points:528,375 Joined:Nov 2011	Message Posted: Jul 21, 2012 10:08:02 AM Ignore KrsnaDragon Report Abuse Speculation breeds despair.
caddilac Champion Author Ontario Posts:16,582 Points:2,136,455 Joined:Apr 2007	Message Posted: Jul 21, 2012 10:06:41 AM Ignore caddilac Report Abuse More BS excuses for jacking up gasoline prices.
Don20 Champion Author Oklahoma City Posts:9,652 Points:2,615,630 Joined:Mar 2005	Message Posted: Jul 21, 2012 10:06:31 AM Ignore Don20 Report Abuse While still expected to ease in the fall, prices at the pump this summer will be higher than expected, in part due to the sharp jump in ethanol prices and rapid increase in crude prices, as tensions between Iran and Israel have once more increased. You don't have to give them reason to up the price, they have plenty. Any old excuse is good..