Gas price Jan 2009

[Terry]

Watching gas prices is interesting. First, did you ever check to see how much of it is taxes? Amazing. Second, Sunoco loses money on its Philly refineries even at these levels and is closing them. Seems inexplicable but is evidently true or they wouldn't be doing it. Third, why is diesel so high compared to gas? (Higher taxes are a big part. ) Fourth, it seems obvious that the traders are bidding it up based on fear of another war in the Middle East, and these speculative bubbles always burst at some point. Personally, I think gas prices peak just when I go to the track.