Gas Prices – update Weds.August 27th, 2012 at 11:44 pm by Bill Steffen under Bill's Blog, Weather
Here’s the latest from Ed: “Monday, August 27, 2012, 9:50PM: On Friday, you could have bought a share of Apple Computer for $657. This morning, you needed $680 for the same share. That’s $23, or almost 4% higher, and that’s how the stock market works sometimes. The rise in Apple was connected to the Samsung smartphone ruling. Gasoline is also traded on a market, and for the past several years, it has often behaved like Apple. (Regulators, take note!) Today, for instance, traders are treating Hurricane Isaac like Apple’s legal ruling, and Chicago wholesale prices are soaring. I don’t see how we won’t get a hike tomorrow to over $4 a gallon, and I am going to fill up in the morning before it hits.” -Ed A. Isaac has shut down 93% of U.S. oil production in the Gulf of Mexico and 67% of natural gas production.