Gas Prices Going Down? Wait For It
I don’t know about where you live, but gas prices jumped sharply Wednesday in the Tulsa metro. Prices shot up more than a dime a gallon to $3.75. What? Haven’t we been reporting that some experts say gas prices could fall nearly 50 cents a gallon by July, the peak for summer vacationing?
You can blame flooding along the Mississippi for the spike in prices this time. CNNMoney reports that the refineries could become inundated in coming weeks, as the flood heads towards Louisiana. More from CNNMoney:
“When we’ve had flood waters in this part of Louisiana before, it has closed up to 12 refineries,” said Peter Beutel, analyst with energy risk management firm Cameron Hanover, referring to the impact of Hurricane Katrina in 2005. “The fear here is that we could see refineries close again.”
Beutel goes on to say if it wasn’t for the flood, gas prices would probably be going down. There’s always something isn’t there?