Well, today anyway. Oil prices skyrocketed on the same day the government's weekly gasoline survey had the average price in the L.A. area falling by another eight cents or so, to $3.68 a gallon. It was the 14th straight week that gas prices had fallen (all told, roughly a buck a gallon). Pump prices donít necessarily go in lockstep with oil prices, and Monday was a very unusual trading day (a WSJ MarketBeat post was headlined "Oil of Oy Vey"). That said, itís a good bet that gas prices are going up Ė bad news because those 14 weeks of cheaper gas have been one of the few bright spots for the local economy. Of course, the world has gotten so cockeyed that what we consider good news Ė a drop in the price of gasoline Ė is actually bad news because it just means that thereís not enough demand.
More by Mark Lacter:American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
New at LA Observed
On the Politics Page
Go to Politics
Sign up for daily email from LA Observed