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Post-Election Gas Prices on the Rise

By Joe Benton
ConsumerAffairs.com

November 10, 2006
The elections are over for two more years and gasoline prices seem to be headed back up again.

Conspiracy theorists will say, "I told you so."

Gas prices had fallen roughly $1 a gallon since toying with a new record high in late spring but now the average price is of a gallon of regular is edging back up.

Almost 42 percent of American consumers are convinced the Bush administration used its influence to drive gas prices down in advance of the elections, according to a recent Gallup Poll. The poll also reported that Democrats were far more likely to believe the gas price conspiracy theory than Republicans.

Oil industry executives ridiculed the story as rubbish, adding more weight to the conspiracy in many consumers' minds. The oilmen pointed instead to supply and demand theory as the primary explanation for the price declines.

Theories aside, gasoline prices are inching higher and the average price for a gallon of regular unleaded now stands at $2.22, up 2 cents this week according to AAA of Heathrow, Florida.

The average prices for midgrade and premium unleaded gasoline are also up 2 cents a gallon. Midgrade sells for an average of $2.35 a gallon and premium sells for an average of $2.44 a gallon.

The most expensive gallon of regular is on sale in Las Vegas for $3.35. The cheapest gallon of regular is found in Verona, Virginia as $1.89.

Here is a look at some gasoline prices from around the country in the ConsumerAffairs.com Gas Price Round Up.

California: Gas prices were up in most local areas this week, ending a record-breaking 11 weeks of price drops that averaged more than a penny a day and took prices 30 percent below their all-time high, according to the Automobile club of Southern California.

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.42, which is 1.5 cents higher than last week, 22 cents lower than last month, and 27 cents lower than last year.

On the Central Coast, the average price is $2.67, down 2.3 cents from last week, 23 cents below last month, and 12 cents lower than last year.

In the Inland Empire, the average price is $2.42, up 2.8 cents from last week, 17 cents below last month, and 28 cents lower than last year.

This is the second straight week that the national gas price average has risen, and oil industry analysts expected the increase sometime in November because of OPEC's decision to cut back on crude oil production, the Auto Club said.

Texas: Gasoline prices in the state showed a mixed bag of results as averages in some Texas cities moved slightly higher and others moved slightly lower, according to the AAA Texas Weekend Gas Watch.

The current Texas statewide average price for self-serve regular gasoline is $2.08 a gallon, about a penny less than last week.

Motorists in Corpus Christi are seeing some of the lowest averages in the state at $2.00 a gallon -- up a penny since the week before. The highest prices this week can be found in the Austin-San Marcos area at $2.15 a gallon -- down a penny.

"Gasoline prices in Dallas, Fort Worth and Houston headed downward this week after adding a penny or two to their averages last week," said AAA Texas spokesperson Rose Rougeau. "It appears gasoline prices may be leveling off since there have not been any major price gains or losses in the past couple of weeks."

The national average for regular self-serve gasoline is about the same as last week's average $2.21 a gallon. AAA Texas Weekend Gas Watch monitors the average price of gasoline in Texas.

Florida: Gasoline prices around Tallahassee have crept upward recently. AAA's Daily Fuel Gauge Report noted that the average price for a gallon of regular unleaded gas is $2.18 in the Tallahassee area.

The average price for regular unleaded gasoline throughout Florida is $2.23. The most expensive gallon sells in West Palm Beach for $2.32 and cheapest gallon is found in Tampa for $2.16.

The demand for heating fuel could cause prices to rise again in the coming winter months, said Gregg Laskoski, a spokesman for AAA Auto Club South in Tampa. "One of the key factors here is still the weather. Weather forecasters are predicting colder-than-usual weather in the Northeast."

Last week, U.S. crude inventories increased by 400,000 barrels to 334.7 million barrels, but gasoline inventories dropped by 600,000 barrels to 204 million barrels, the U.S. Energy Information Administration said.

There are still ample U.S. oil supplies -- above the average for this time of year. However, oil prices remain buoyed by some OPEC ministers saying another production cut may be in order, strong demand and weather forecasters predicting a colder-than-normal winter in some parts of the U.S.

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