Gas Prices Going Up With Temperatures
Gasoline prices are steadily rising, and energy analysts see higher -- perhaps much higher -- fuel costs when the summer driving season begins.
It's going to be a tough spring. Higher prices will not translate into shortages.
Also, the price of crude isn't so much set by oil traders and refiners. It is really established by investors. A massive amount of money has flowed into petroleum markets, both physical and financial, from hedge and pension funds and other institutional investors. Oil has become a safe harbor for a lot of investment money.
It's going to be a tough spring. Higher prices will not translate into shortages.
Also, the price of crude isn't so much set by oil traders and refiners. It is really established by investors. A massive amount of money has flowed into petroleum markets, both physical and financial, from hedge and pension funds and other institutional investors. Oil has become a safe harbor for a lot of investment money.
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