Yesterday there were some reports that gas may go up by as much as 15 cents a gallon by the weekend.
Stations that had been selling regular unleaded for as low as $2.45 yesterday raised their prices to $2.79, although most places went up to $2.99 (Note to European readers: Yes, I know you guys have been living with eight dollar a gallon gas for years. But this isn't about you; it's about me!).
I can understand the supply problems caused by the hurricane damage, and I can certainly comprehend the laws of supply & demand. After all, I majored in economics for six years before flunking out of college.
But how is it that the price of gasoline already in the ground at gasoline stations suddenly went up in price overnight???? That fuel was produced and delivered well before Katrina hit.
Maybe someone who actually graduated from college can explain that one to me.