Gas price hikes drive gas prices, retail inspections, wholesalers stories
AAA reported Monday that gasoline prices hit the highest national average since October 2008, at $2.75 per gallon of unleaded.
Photo by Flickr user GotMeAMuse
It’s been a while since pump prices seemed newsworthy but the one-week jump of 8 cents per gallon is a notable spike in a common consumer and business expense that’s been trending upward for months.
In case you don’t have it bookmarked; here’s the AAA fuel gauge report site; keep in mind that in additional to an interactive state map that’s handy for localizing pricing data, the site also offers links to oil and gas industry experts and AAA spokespersons.
Readers enjoying relatively low cost for heating and motoring fuel lately will be dismayed at projections of higher prices as one of the downsides of an economic recovery. Some analysts are predicting an $85-per-barrel near-term spike for oil while Merrill Lynch analysts are touting a long-range forecast of $100-plus.
If you’re in an oil-rich region, it’s worth taking a look at how these rebounding trading prices are affecting jobs, research and exploration, earnings and other industry factors.
If you’re not, a late-winter and spring gas-price forecast would not be amiss. The Energy Information Administration analysts are always helpful and you can find consumer voices at information-swapping sites like Gasbuddy.com.
If you’ve exhausted the possibilities of the gas-price forecast, roam around and look for an offbeat angle. A few that come to mind:
Gas pump inspections: State budget woes may be thinning the ranks of investigators, letting pumps go uninspected longer and leaving consumers unprotected. Your state agriculture or commerce department can point you to the regulatory body; you may need to FOIA inspection records but your audience will be clicking like mad on the resulting graphs and maps you can produce.
Gas station economics. Operators like to say they earn only 5 cents or 10 cents per gallon – and many are going beyond Twinkies, Mountain Dew and lottery tickets to augment that. One station near me offers everything from eBay sales to a DIY dog wash to a sit-down coffee bistro; others sell offbeat merchandise from night-crawlers for fishing bait (even in the winter!) to jewelry and horoscope books. The Association for Convenience & Petroleum Retailing site can guide you to local trade groups, but burn a few gallons driving around and talking to franchisees about their survival plans.
Wholesalers. They must have tales to tell, from their own economic plights to interesting safety technology to regional pipeline updates to the market for drivers with haz-mat credentials.
