It's not even close to being summer and gas prices are on the way up. Somehow the detention of the British sailors in Iran helped increase prices.
I still don't understand how an event like this leads to the immediate increase in the price of gasoline. I understand why it would raise prices for crude oil but how does the price of gasoline (which has already been refined, processed and is in the pipe line) increase because of this crisis. I just don't get it.
As to prices here's a tale of two gas stations. One is a BP. One is a Hess. They are about two blocks apart from each other on Rhode Island Avenue. At BP the price for regular is $2.95 a gallon. At Hess the price for regular is $2.73. That's a difference of 22 cents a gallon. Who in their right mind would be buying gas at the BP station.
I have to assume that this is the precursor to $3 a gallon gas for the upcoming summer.