LA Biz Observed
 
Bio • Email • Archive
 

 

The latest numbers released by the government this afternoon show that an average gallon of self-serve regular in the L.A. area was $3.05 a gallon, up from $2.58 just four weeks ago. That's enough for folks to start noticing the extra $15 or $20 they're shelling out every time they tank up. Normally, oil prices are in lockstep with gasoline prices, but year-to-date, oil is down 3.5 percent and today it fell more than a dollar a barrel, to around $59. There are plenty of explanations offered by industry types on why gas has gone up so much so fast - supply shortages in other parts of the country, the annual switchover to summer grade fuel, etc. - but consumer groups claim that supplies are being deliberately limited in order to raise prices and profit margins. The industry admits that supplies are limited, but claims it’s beyond its control. Take your pick.

> | More
© 2003-2011   •  About LA Observed  •  Email the editor
Mark's latest news
and commentary
 
 
LA Biz Observed
by topic
Economy and jobs
Media, books & Hollywood
Politics and labor
Travel, food and life
Technology
Land and real estate
Wealth and poverty
 
 
New at
LA Observed
 
6:50 PM Thu | Largest crowd for a Walk of Fame star ceremony that many could remember, outside the Capitol Records tower on Thursday. Photo by Gary Leonard.