Complain about a product or service

Gas Price Increases Ahead

By Joe Benton
ConsumerAffairs.com

July 12, 2007

• Gas Prices Trickle Down • Why Are Oil Prices Falling? • Labor Day Gas Prices Up a Penny • Gas Prices Fall for 37 Days • Gas Prices Slide 8 Percent from Record • Gas Prices Creep Down • Oil Price Trend May Be Good News For Consumers • Gasoline Drops Below $3.90 a Gallon • Gas Prices Pull Back Slowly • Oil Prices Fall As Storm Misses Rigs • Latest Gas Price Round-Up • 'Run Your Car On Water' Scheme Could Leave Consumers All Wet • Unregulated Energy Trading Blamed for Much of Gas Price Gusher • Airlines Join Effort To Limit Oil Speculators • Questions Raised about MyGallons.com • 'Hypermiling' Is Dangerous, Says AAA • Struggling Drivers Blame Washington for High Gas Prices • What’s Really Fueling Those Sky-High Oil Prices • Credit Card Fees at the Pump are a 'Hidden Tax' on Consumers • Survey: 3 Out of 4 Angry About High Gas Prices • $2 A Gallon Gas Possible, Analysts Tell Congress • Speculators Buy More Oil Contracts Than Oil Companies • Saudis to Pump More Oil • Limiting Oil Speculators Gains Ground • Congress To Probe Oil Price Spike • Oil Market 'Saturated,' Iran Claims • Feds See No Relief from High Gas Prices • High Gas Prices Could Mean Lower Insurance Rates • High Gas Prices Good For Kia, Honda • Gas Prices Rip Past $4 and Keep Climbing • Administration, OPEC See Different Causes Of Oil Surge • Feds Probing Possible Oil Market Manipulation • Beware of Fuel Sippers Sipping High-Test • Retailers Respond to High Gas Prices with Discounts, Promotions • Rushing Into a Smaller Car Too Soon May Not Save Money • Hybrid Sales and Prices Climb in Lockstep with Gas Prices • Truckers Bemoan Burden of High Diesel Costs • Gas Prices Biting into Worker Productivity • Consumers Warned About Gas-Saving Schemes • Is Tony Soprano Controlling Gas Prices? • Oil & Gas: The New Bubble • Critics: New Federal Gas Mileage Standard Falls Short • Consumers Feeling Pain of Skyrocketing Gas Prices • New Gas Price Record Forecasts Expensive Summer Driving Season --- • More ...

Gas prices are likely to continue rising through the summer because of increased demand and tight supplies according to the U.S. Energy Information Agency.

The government agency predicts that retail gasoline prices will average $3 a gallon this month and climb to $3.07 in August.

"This is due to a combination of rising crude oil prices, strong demand for gasoline and low gasoline inventories," the analytical arm of the Energy Department said.

The average national price of a gallon of gas jumped 2.6 cents overnight to $3.02 a gallon, according to AAA. Prices have risen 7.7 cents over the last week after falling steadily from a late May peak of $3.23 a gallon.

Closure of a refinery in Coffeyville, Kansas because of flooding and the shutdown of oil processing equipment at a BP refinery in Whiting, Indiana have added upward pressure to the national average price of gasoline.

Low gasoline inventories are also causing upward price pressure at the pump, as fuel stocks are expected to remain tight through the rest of the summer, the government agency reported.

Gasoline inventories are forecast at 198 million barrels at the end of the summer driving season on September 30, 7 million barrels below the 5-year average and 17 million barrels lower than last year, the EIA said.

Stocks are low because many refineries are still off line for maintenance or unplanned outages.

Report Your Experience
If you've had a bad experience -- or a good one -- with a consumer product or service, we'd like to hear about it. All complaints are reviewed by class action attorneys and are considered for publication on our site. Knowledge is power! Help spread the word. File your consumer report now.

Back to the top |