Back to the Weather Channel. This morning they seemed almost heart broken that Gustav slowed to a Cat 2. Sadly, 4 folks were killed in Atlanta in car accident driving as they were evacuating from Gustav area.

They fell again yesterday, before OPEC announced they'd cut supplies, and the price went to $103.xx a barrel. That's still 30% lower than it's high. But guess what, gas prices went up at lunch time in Peoria by $.30!!!!! That's the criminality right there. And MSN.com just ran a story the other dau about "how much gas stations are willing to lose on gas to get you in their stores and repair shops". Well, bull! If they can raise the price by 10% in one afternoon, when the oil price only went up 3%, then I think we know they are making money. Sorry, the whole theory of "current pricing has to reflect the future replacement cost" is being completely ignored. NOW is the time for an investigation on PRICE FIXING! Nationwide average should be under $3.00. Where is it? $3.50 or so. This is garbage!

Noticed same thing...oil AND gasoline futures have fallen but pump price jumps 30 cents...

I saw that yesterday also. Prices jumped to $3.95 here. Back when oil was at it's high of $147 a barrel gas was $3.99 a gallon.

It doesn't make sense. Someone please explain this because all the other stories we've been told just went out the FREAKING window.

You folks are just now figuring out that the cost of gas is the best way in the world to take money out of your pocket?

You didn't see the news about the oil companies profits already this year?

And why doesn't the government do anything? - because they are in on the deal! Gas tax is a percentage. If the price of gas goes up, the government makes more money too.

And, they'd love it if we would all get on the ethanol bandwagon - begause ethanol takes oil and natural gas to produce too. All that fad is doing is driving up the cost of food.

Wake up, America...

It is fun to see the ones who do not have a clue as to how things actually work, calling for investigation. We are talking world prices on oil, but regional pricing on gasoline. The storms are having an affect on the oil supplies in the areas that depend on that source. We still produce a large amount of our own oil and any delays in production are going to last several weeks. That is why the big find in the north central area would be great if they can exploit it. It buffers the gulf supplies a little more.

Refinery problem in Indiana has gas up 25 cents since Sunday. $4.15!

What was/is the problem there?

I hadn't heard about the refinery problem in Indiana. I know that has an effect on our prices.

The FEDERAL gas tax is 18.4 cents PER gallon of gas and 24.4 cents PER gallon of diesel. That's a FLAT fixed tax.

With decreased demand and increasing inflation, the federal transportation budgets are BROKE BROKE BROKE. It hasn't changed since the early 90's.

States may vary but most state's im familiar with are flat tax. Kansas has a 25 cpg tax on gas, 27 cpg on diesel. Both of these figures include a 1 cpg environmental fee and are in additional to the federal excise taxes.

While I can think of some flattering adjectives to describe our young friend from Kansas, sadly “tact” and “decorum” do not exactly rush forth.

Try this one on for size...

“Indyboater, I fear you are misinformed in regard to the Federal gasoline tax. A popular misconception has it as being a percentage of the price. However, I have it on good authority that it is in fact a fixed rate of 18.4 cents a gallon regardless of the price per gallon. Thus the Federal government receives no windfall from an escalating price per gallon of gasoline. In fact, given that the higher price tends to decrease consumption, Federal revenues via this particular tax will tend to be depressed.”

Now was that not better and less likely to create animosity amongst the community?

"Wake Up America"

"Wake up America"....there's a kegger at Alpha house.

Toga, Toga, Toga

Gas prices are up because all of the major refinerys are in TX and LA. Where is IKE headed? Oh yeah... Been discussed before, oil is not the biggest kink in production, refining capacity is. What happens when they shut down refinerys for an incoming storm? There is market manipulation, but no more so than any other commodity. Oil gets the biggest news, because we use it in soo many of our products, fuel, plastic, etc.

"Christ. Seven years of college down the drain. Might as well join the [censored] Peace Corps."