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Why are gasoline prices rising again?

6291 Views 56 Replies 29 Participants Last post by  JEFF RUNGE
Why are gas prices rising when: the media reports demand for ALL products (oil based) are DOWN, Oil and gas inventories are high, yet in the past 60 days gasoline has gone up over 25 cents a gallon (US)  about 20%  While at the same time Oil has moved very little,
 possibly down as much as 5% ??  
 Any one know why?  Where are the billions of dollars going? Oil Companies?  Whole sale prices (NYSE) bottomed at about $.99 a gallon and is about $1.27 now.  This kind of energy cost increases will make any economic recovery almost impossible....
Do NOT turn this into a political debate !! 
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One reason is that OPEC has cut production of raw crude in order to drive prices back up.
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