I called it - gas WAS too cheap

This week saw gas prices rise about 6 cents per liter to around 97 cents. See my earlier post on gas prices where I said it was too cheap!

Look at it another way. In the summer crude oil was approx. $65-75 per barrel. In October, the average price was more like $85-90 per barrel. Have gas prices actually gone up 20-30% over that time? NO! Until this week, the price was actually down slightly over that time. Cost up, revenue down. Doesn't take a genius to realize that major integrated oil companies are reporting lower profits.

(Good to see the media catching up to me)