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Oil prices plunge as gas prices spike

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SAN DIEGO — Oil prices have plunged to the lowest prices in a decade, but you wouldn’t know it by the prices at the gas station.

San Diegans have had sticker shock at the pump lately as prices near $5 a gallon at some gas stations.

Now, consumerwatchdog.org is calling the price hikes gouging, and some professors agree.

“I can only attribute it to gouging,” said Tony Cherin, Financial Professor Emeritus at San Diego State University.

After researching the issue, the professor believes simple avarice is to blame.

“Well, it’s not gouging. There is no evidence of gouging,” said Tupper Hull, a spokesperson for a conglomerate of oil companies.

“This is one of these unusual circumstances where you have a regional supply issue largely because the unfortunate accident at the Exxon Mobile factory earlier this summer,” Hull said.

To put it in context, in July of 2014 the price of oil per barrel was $98 and gas prices averaged $3.90, but in 2015 the price per barrel is $49 and gas prices average $4.01.

“Right now, refiners are taking home more per gallon of gasoline than ever in recorded history,” according to the watchdog site.

15 comments

  • chris

    in regards to the high gas price article, you forgot to mention AB32 and CARB. why not tell the public what they can expect over the next few years in terms of fuel taxes from CARB? it’s easy to blame the oil companies and leave out the real cause for the spike in gas prices.

    • Steve Strokemayer

      Try getting your Info on energy prices from someone other than Faux News or douch bag shills on AM radio you might learn something……

      • John Beckwith Jr.

        @ Steve,
        Try searching “hidden gas tax” and you will find plenty of info on how this was predicted a year ago. You will learn that our refineries were placed under the cap and trade scam this year. You will learn how conservatives fought with democrats to stop this predicted gas increase and were denied by 100% democrats in our democrat-controlled legislative and judicial branches.
        You live in a democratically controlled state, with extremely high gas prices and a ton of oppressive regulations aimed at big oil, they mandate special gas formulas specific for California all the while you sit on your high horse and say it isn’t YOUR politics causing this? How ignorant can you be?

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  • Ann Puckett

    ““Well, it’s not gouging. There is no evidence of gouging,” said Tupper Hull, a spokesperson for a conglomerate of oil companies.

    “This is one of these unusual circumstances where you have a regional supply issue largely because the unfortunate accident at the Exxon Mobile factory earlier this summer,” Hull said.”

    That’s gouging! One year ago the oil was $98 per barrel and today it is $49. That’s gouging!

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