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Hawaii Average Premium Gas Hits $4.708, As Nationwide Pump Prices Jump By 30 Cents In A Month

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http://www.zerohedge.com/article/hawaii-average-premium-gas-price-hits-4708-nationwide-pump-prices-jump-30-cents-month

Now that the Obama approval rating has hit a plateau where it correlates only with the inverse average price of gas instead of the Russell 2000, the AAA brings some more ominous news for the man who last week launched a crusade to wipe out all oil speculators (and witches) from the face of the earth. While last week the average price at the pump was $3.81, it has since surged once again to hit a new multi year nominal high of $3.86, getting dangerously close to the all time high record price of $4.114 recorded on July 17, 2008. Incidentally premium is already above that mark,currently averaging $4.128. The number is also a nearly 10% increase from a month ago when the average price was $3.561. Seven states reported an average gas price above $4 with Hawaii once again leading the pack at a $5 rounding up $4.534. And of course, instead of focusing on the real cause of surging commodity prices, the administration's response: the creation of a "working group" to battle manipulation.

From BusinessWeek:

The Obama administration created a working group to explore whether oil and gasoline prices are being driven higher by illegal manipulation, the Justice Department said.

The working group, which includes representatives of federal agencies and state attorneys general, will check for fraud, collusion or misrepresentation at the retail and wholesale level, the department said in a statement today. The group also will examine investor practices and the role of speculators and index traders in oil futures markets.

......

As we predicted so long ago, after facilitating the revolutionary wave in MENA, Bernanke's policies are about to take down the telepropter himself, leaving Bernanke the podium to announce on Wednesday during the first ever fed press conference that he has now usurped the title of Chancellor Palpatine.

The president’s job approval rating, which started rising after he reached a deal on tax cuts with congressional Republicans in December, reversed course in late January as turmoil in the Middle East began driving up gasoline prices.

A Washington Post-ABC News poll released April 19 found that 47 percent of Americans approve of Obama’s job performance, down seven percentage points since January. Even with signs of improvement in economic indicators, 44 percent of Americans said they believed that the economy is deteriorating, the worst reading for the poll in two years.

But, but, that's not that strawman that Bloomberg uses on every other article which begins with the title "______ confirms economic recovery in US." We wonder how many more years have to pass before even the most obtuse realize that the only "recovery" is the non-recurring one, purchased in exchange for nearly $3 trillion in freshly printed Benjamins.

If the US wants to stop ultra high petrol prices stop print money and don't debase your currency!

Quite like equating Bernanke with Chancellor Palpatine :)

Still luckily with the US recovery in full swing the US consumer can afford higher gas prices.....

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The key to keeping ultra high oil prices down is to keep ultra high oil prices down.

First cut demand by taxing gas guzzlers like wot Brown was going to do (£445 for a 2 litre "family" car). Build up mass transit systems and begin to open up the massive Alaskan reserves (said to be larger than the entire Middle East put together).

As of now, gasolini is dirt cheap in the US at around one third what we get gouged in this country. But in rip off Britain we just get ripped off and do owt about it.

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If the US wants to stop ultra high petrol prices stop print money and don't debase your currency!

Not bombing middle east oil producing nations might be a good idea too.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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