What's up with gasoiline prices?

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If the one who in power wants to get re-elected tried twisting hands to get lower gas price, the other party will not lay down to get hammered, they will protest vigorously.
 
Paid $3.02 @ a Turkey Hill last night for RUG. Guess being an "undecided" state has some advantages.
 
Originally Posted By: friendly_jacek
Isn't Ohio an undecided state?
Seriously, local gas prices went down lately, 20 cents or so in this very red state. Reasons: dollar spiked higher, oil spiked lowed. Oil production is high and we have 5 year record high oil storage. The gasoline should keep falling down all the way to the end of year (seasonality). When global recession hits USA in 2013, $2.50 gas is not out of question IMHO.


Ohio looks to be favoring the incumbent, but it's very close.
Ohio has traditionally been a moderate Republican state, and has gone either way in national elections.
In the history of our republic, only eight presidents have been elected without carrying Ohio, but Ohio doesn't have as many seats in the house and thus electoral votes as it once did.
Still, does anyone really think that the incumbent could influence the producers and sellers of fuel to reduce prices in a battleground state when the effects are at best ambiguous?
I'll have to find my early spring post on future gas prices.
I'd love to crow about having been right.
 
OTOH, things change quickly.
Ohio is now a dead heat, and the least expensive gasoline we saw today was $3.19, with a high of $3.45.
It was $3.37 across the river in KY.
Talk about price volatility!
 
The election has nothing to do with it. The prices will continue to rise and fall long after the election is over regardless of who wins.
 
Originally Posted By: Trajan

http://www.reuters.com/article/2012/10/29/storm-sandy-refining-idUSL1E8LS1OU20121029

NEW YORK, Oct 29 (Reuters) - More than two-thirds of the East Coast's refining capacity was shutting down on Monday ahead of Hurricane Sandy, sources and officials said, as operators braced for potentially damaging power outages and flooding.

Guess Hurricane Sandy is running for office?


I heard gas prices might be rising about $.50 a gallon as the result of refinery disruption from the storm...
 
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