Gasoline Prices Set to Rise Through Election Day
Source: CNBC
Retail gasoline prices, already at the highest levels on average since July 2008, are likely to continue to climb this month as refinery and pipeline problems overshadow weakness in U.S. consumer demand.
On Wednesday night, a fire broke out at Exxon's [XOM 92.7045 0.4845 (+0.53%) ] Baytown, Texas refinery, a 584,000 barrel per day facility that is the largest operating refinery in the U.S.
Exxon said there may be "some impacts to production" from the fire, but the plant will resume normal operations. A partial shutdown of the Colonial Pipeline, the nation's largest oil product pipeline, also contributed to supplies fears, as it impacted the portion of the line carrying gasoline from Atlanta to Nashville.
"It will only take another refinery issue and a bit more of geopolitical noise to have the first U.S. election at a US average gasoline price of $4 a gallon," says energy analyst Olivier Jakob of Petromatrix. (Read More: Gas Prices Jump Up to 20 Cents Overnight in California)
The national average for regular unleaded is now at $3.79 a gallon, basically on par with where pump prices were last Friday.
Read more: http://www.cnbc.com/id/49303656
It will remain $5 probably through 2012.
= new reply since forum marked as read
Wait, why yes, yes they could have. 
the oil companaies have done this during every election cycle since i can remember . greedy bastards.
Makes you wonder, Oil barons giving money to a certain candidate? A certain party making claims that gas prices have more than doubled under their opponents administration? Oil companies mysteriously having "problems" ahead of an election?
There's no coincidence here, no, not at all!
I'm sure the upcoming election has nothing to do with this.
