{"id":64667,"date":"2015-02-04T11:35:04","date_gmt":"2015-02-04T17:35:04","guid":{"rendered":"http:\/\/csinewsnow.com\/?p=64667"},"modified":"2015-02-04T11:35:04","modified_gmt":"2015-02-04T17:35:04","slug":"wholesale-spike-elevates-retail-gas-prices","status":"publish","type":"post","link":"http:\/\/csinewsnow.com\/?p=64667","title":{"rendered":"Wholesale spike elevates retail gas prices"},"content":{"rendered":"

\"gaspumpTHUMB\"<\/a>National average jumps 5 cents per gal.<\/p>\n

CHICAGO (Feb. 4, 2015) \u2013 In the past 24 hours, the national average price of gasoline has increased by 5 cents per gal. from $2.06 to $2.11\u2026 What\u2019s going on?<\/p>\n

Today\u2019s jump has been brewing since Jan. 7. For the three weeks ending January wholesale fuel prices climbed 25 to 30 cents per gal., but that wasn\u2019t as aggressive as what this week has already delivered. Since Monday morning wholesale gasoline prices are up an additional 11.5 cents per gallon, on average, nationwide. San Francisco saw the highest wholesale increase since Monday, up 24-cents per gal.<\/p>\n

\u201cWhat does it mean for retail prices? It\u2019s an indication that the prices at the pump in most areas will be climbing steadily and in some other areas, like the Great Lakes region, we\u2019ll see steeper climbs. For instance, Michigan\u2019s average price on Tuesday was $2.09 and this morning it\u2019s 2.23,\u201d said Gregg Laskoski, senior petroleum analyst with GasBuddy.<\/p>\n

Bay City, MI led all U.S. metro markets with a 29-cent increase just in the last 24 hours. (To see the U.S. metro markets with the highest price increases click here: http:\/\/media.gasbuddy.com\/content\/docs\/Top50BiggestMoversfor2-4-2015.pdf)<\/p>\n

\u201cIt\u2019s not uncommon for many to look at the headlines and assume that the jump in crude oil or the United Steel Workers strike (at 9 refineries) triggered the price increases, but they\u2019re only peripheral issues,\u201d Laskoski added. \u201cRetail prices are rising as they always do in the first quarter for the same reasons year-in and year-out: Refinery outputs are reduced during a transition process necessitated by EPA mandates. A maintenance period begins between the time that winter fuel is depleted and before the cleaner-burning, more expensive \u2018summer-blend\u2019 gasoline production can begin. Much but not all of that maintenance is scheduled in advance.\u201d<\/p>\n

And as a result, we\u2019re all seeing gas prices go up whether we\u2019re in Philadelphia, Detroit, Seattle or anywhere in between.<\/p>\n

\u201cCalifornia and the Pacific Northwest now have the highest wholesale prices in the nation so some of the largest increases are expected in California\u2026and that\u2019s due largely to the head-start our refineries get on that annual maintenance,\u201d added Allison Mac, a GasBuddy analyst based in Los Angeles. \u201cWhile we saw West Texas Intermediate (WTI) jump to $54\/bbl yesterday, it would be a mistake to think that\u2019s a direct cause of what we\u2019re seeing this week,\u201d added Allison Mac, a GasBuddy analyst based in Los Angeles. \u201cIt\u2019s coincidental but at the same time, we shouldn\u2019t overlook it since crude oil and retail gasoline prices move in tandem the majority of the time.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

National average jumps 5 cents per gal. CHICAGO (Feb. 4, 2015) \u2013 In the past 24 hours, the national average price of gasoline has increased by 5 cents per gal. from $2.06 to $2.11\u2026 What\u2019s going on? Today\u2019s jump has been brewing since Jan. 7. For the three weeks ending […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-64667","post","type-post","status-publish","format-standard","hentry","category-state"],"_links":{"self":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/64667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64667"}],"version-history":[{"count":2,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/64667\/revisions"}],"predecessor-version":[{"id":64669,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/64667\/revisions\/64669"}],"wp:attachment":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64667"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}