Gas inching higher
And we do mean inching - the government's latest survey shows less than a two-cent increase in the average price of self-serve regular in L.A., to $3.916. Not that the price of oil is flagging. Crude settled at a new record of $127.05 a barrel, a gain of 76 cents (OPEC is unlikely to boost production later this year). Thin refinery margins are the only thing between us and even higher gas prices, but that could change this summer as folks start hitting the road and demand picks up. That’s when everybody starts paying more than $4 for gas.
3:42 PM Monday, May 19 2008 • Link
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© 2003-2008 • About LA Observed • Contact the editor
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