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Gas prices rise sharply

Published 10:26pm Monday, March 5, 2012

Average retail gasoline prices in Michigan have risen 11.8 cents per gallon in the past week, averaging $3.92 per gallon Sunday. This compares with the national average that increased 5.2 cents per gallon in the past week to $3.71 per gallon, according to gasoline price website MichiganGasPrices.com.

Including the change in gas prices in Michigan during the past week, prices Sunday were 40.3 cents per gallon higher than the same day one year ago and 40.6 cents per gallon higher than a month ago.

The national average has increased 27.8 cents per gallon during the last month and stands 24.1 cents per gallon higher than this day one year ago.

“Gasoline prices have spiked considerably higher in virtually every area over the last two weeks, and, while I don’t expect the pace of the recent rise in prices to continue for the entire month, a similar jump may again occur closer to April Fools Day, and it won’t be a funny joke, it’ll be disgusting reality,” said Patrick DeHaan, a senior analyst with GasBuddy.com. “The rise in price is so unbelievable that we may have to revise upward our previous gasoline forecast that had called for a national average of between $3.75 to $4.15 by mid-May, as the national average already stands at nearly $3.72 per gallon.”

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  • Username75

    Everytime, someone buys Futures on Wall street, for a higher price,
    it raises Your Gas Price.
    Does anyone see the problem with that?
    They are called Futures, Which means in 6 Months they hope
    to sell those Futures at a Higher price than they paid for them.
    Why in the Heck does that have any influence on the Price,
    you pay for gas Today?
    shouldn’t You pay the actual cost of Gas an oil Company has
    paid for the gas You buy today?
    after all You are buying it Today, not in the Future.
    You are being scrammed by Big Oil to Insure them against losses,
    they MIGHT incur in the Future!
    How long will You not see what is really going on,
    and not demand fairer pricing, of the gas You are buying today,
    not in the Future.
    For nobody knows the Future, as the Future has not yet happened.
    If in the Future they must pay more for the Oil they refine, then
    They should raise prices, not today.
    You should pay what it cost them to buy the Oil in the past,
    not in the Future.
    This System is rigged against You for the good of Wall streets Casino’s

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