The President doesn’t read newspapers, why should you? Only nerdy intellectuals waste their time with facts and new stories. Curt is a very curt fellow. He sums up all of the important news that is going on in Orange County in just one word.
U.S. pump prices top $3 a gallon on supply trouble
By Ronald D. White, Times Staff Writer
May 5, 2007
Refinery problems have reduced output. Relief will be hard to find.
The average U.S. gasoline price jumped above $3 a gallon Friday because of continuing refinery problems, a shortage of skilled workers to help fix them, high demand and low supplies.
The national average price for a gallon of self-serve regular gasoline hit $3.012, according to AAA’s daily survey of filling station credit card receipts.
It was the first time that the U.S. average has topped $3 since September. Analysts feared the price could go even higher if new problems added to the strain on the nation’s refineries, which have been hit by an unusual number of mishaps this year.
Gasoline supplies are unusually low for this time of year, “so we don’t have the cushion we normally have to alleviate shortages,” said Phil Flynn, vice president and senior market analyst for Alaron Trading Corp. in Chicago.
The rise in pump prices was sudden, with eight states joining the $3-and-above club since Monday. The 20 states, led by California with an average price of $3.455 a gallon, stretch across the nation. Read More