very very bad news for commuters in Los Angeles:
LOS ANGELES – The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded what is believed to be its largest single-day increase today, rising 19.2 cents to $4.539 — its highest amount since July 12, 2008.
The average price has increased by more than 1 cent on each of the past seven days, including 8.8 cents on Thursday and 5.8 cents on Wednesday. It is now 40.3 cents more than a week ago, 36.4 cents higher than a month ago and 71.5 cents greater than at this time last year, according to figures from the AAA and Oil Price Information Service.
Yesterday it was reported that prices were so high, some gas pumps are simply shutting down:
Gasoline station owners in the Los Angeles area… are beginning to shut pumps as the state’s oil refiners started rationing supplies and spot prices surged to a record.
“We’re going to start shutting pumps Friday,” Sam Krikorian, owner of Quality Auto Repair in North Hollywood, said by phone yesterday. “Gas is costing me almost $4.75 a gallon with taxes. There’s no sense in staying open. The profit margins are so low it’s not worth it.”
This is exactly why Capitalism just doesn’t work – they should keep their pumps open not for filthy dirty profit, but for their love of community!
But, hell, who needs Keystone XL, Alaska, or offshore oil anyhow?