I've seen the price of gas creep up maybe 10 cents a gallon compared to december of the last few weeks. Locally, we went from $1.69 to 1.79 over 2 weeks. Yet, Crude has been trading lower than im guessing all of 2008. Demand is down, supply is up. Speculators aren't bidding the price up...well it has been attempted but prices are still remaining at 35-40 per barrel.
Are the refineries trying to turn some extra profit or what?
I'm happy for sub $2 gas but i wont be impressed until it showes that its stustainable and wont be speculated to over $4.00 again.


http://news.yahoo.com/s/ap/20090115/..._ge/oil_prices


Crude prices tumble below $35
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Digg Facebook Newsvine del.icio.us Reddit StumbleUpon Technorati Yahoo! Bookmarks Print By CHRIS KAHN, AP Energy Writer Chris Kahn, Ap Energy Writer – 10 mins ago Reuters – A pipeline is seen at a gas compressor station in Sudzha in Russia's Kursk region January 11, 2009. International …
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USO 29.93 -1.30
^GSPC 824.92 -17.70
^IXIC 1,467.06 -22.58
NEW YORK – Oil prices are trading below $35 a barrel with rising crude inventories and falling retail sales in the U.S. suggesting a drastic decline in energy consumption.

Light, sweet crude for February delivery fell $2.52 to $34.65 a barrel Thursday on the New York Mercantile Exchange.

Prices have sunk 27 percent since last week and analysts say they may test a five-year low reached last month of $33.87 a barrel.

U.S. oil inventories have been rising for months, suggestion that the recession has slashed energy demand. The Energy Information Administration said Wednesday that crude inventories grew by 1.2 million barrels for the week ended Friday after jumping 6.7 million barrels the previous week.