On the Money

Gas prices hit all time high for February

SAN DIEGO – Gas prices have soared 55 cents in California in the last 25 days and the increase has financial experts and commuters scratching their heads.

gasAccording to the watch dog group Utility Consumers’ Action Network, gas prices have hit an all-time high in the month of February.

“It’s collusion without the chance of ever having to face collusion in court,” said San Diego State University finance professor Tony Cherin. “The few major companies now have the power to do anything they want and there is nothing anyone can do about it.”

Cherin said there is simply no logic in the price hike.

“With oil prices trading relatively low at $95 a barrel and with a struggling economy, all economic indicators should be pushing gas prices lower, but according to the oil companies refinery slowdowns have forced prices to spike,” Cherin said.

“America is pumping more oil than nearly any country on Earth,” he said. “With the boom of production in the Dakota’s there is more supply than ever before, it just doesn’t make sense… I’d call it gouging.”

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7 Comments to “Gas prices hit all time high for February”

    Mark said:
    February 19, 2013 at 11:11 AM

    The Dakota's what?

    Josepho858 said:
    February 19, 2013 at 11:15 AM

    There are two reasons the oil companies keep raising the price of gasoline. One: because they can.
    Two: because their greed has no limit.

    EKM said:
    February 19, 2013 at 11:59 AM

    As usual, the reason for the rising price of gasoline is GREED. Keep on checking the profit margins. EKM

    Rock said:
    February 19, 2013 at 4:38 PM

    This happens every year starting in late winter. investors expect a rise in stock value, so no matter what, the marketers create a shortage.
    Then they blame it on PMS (preventative maint. system), or speculators(they really can screw things up).
    It will ALWAYS be like this unless the industry is regulated. I think that is how it is in Mexico.
    On the bright side you can buy stock and maybe make some $$.

    ron said:
    February 19, 2013 at 7:46 PM

    it's all BS. I wish we could tell the oil companies to go F themselves!!!

    Oil and Gold Prices said:
    April 3, 2013 at 8:37 PM

    @Rock now it happens almost every month, oil price companies have a good control on the oil price and the government can't do anything about it unless they propose to use natural fuel.

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