Big spikes in gas prices reported

Gasoline prices have skyrocketed 15 to 18 cents a gallon overnight at some service stations in Tarrant County, according to informal reports coming in from motorists.

The price spikes apparently result at least in part from recent rises in oil prices to a general range of $100 to $105 a barrel.

At least a small number of stations that were selling regular in the low $3.40s on Monday had hiked their prices to the mid- to high-$3.50s today.

The average price for a gallon of regular in the Fort Worth-Arlington area is $3.49, unchanged from a week ago, according to a report today by auto club AAA, Oil Price Information Service and Wright Express. But the price spikes being reported today, coupled with the growing impact of higher oil prices, can be expected to quickly raise that number.

Both low and high pump prices are posted at http://www.fortworthgasprices.com/.

--Jack Z. Smith

(The price for regular unleaded gasoline at this QT in Saginaw went up 18 cents overnight, from $3.41 the previous day to $3.59 on Tuesday, Feb. 21, 2012. The national average Tuesday is $3.57, up 40 cents from a year ago. Photo by David Kent)

Comments

[ML Simons]

Big Oil will post major Profit increases in 2012 while the working man stays home to keep out of the poor house.

[Ana Merican]

Mr. Jack Z. Smith predicted back in 2008 that the next president would be a slave to Bush's financial policies...'Next president will be a slave to Bush administration fiscal woes -- Jack Z Smith'
Now we are all slaves to Obama's fiscal disaster. Back then Ross Perot was alarmed by $1B a day in deficit spending ($300-400B per year) but now there is no great alarm as a lead senior Democrat says "President Barack Obama's 2012 budget proposal projects this year's deficit will reach $1.6 trillion, the largest on record" That is over 4 times as much as what caused alarms in 2008.
Gas Prices and the rest of the economy are headed over the cliff as the media dutifully follows their dearly elected leader Obama.