Another huge jump in gas prices

Normally, the weekly surveys by the government's Energy Information Administration and the Auto Club show roughly the same average price. Not this week. On Monday, the EIA reported that an average gallon of regular in the L.A. area was $3.574. This afternoon, the Auto Club reported that the average price in L.A. was $3.821. That kind of jump almost never happens - and keep in mind, that's the average. Already, retailers are worried about losing shoppers this spring, and the airlines are starting to raise fares. Of course, the price spike might turn out to be a short term wonder. After all, there haven't been any major disruptions from the Middle East, and Saudi Arabia has already offered assurances that it would make up any production lost out of Libya. Also worth noting is that oil prices fell slightly today.