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Switch -- now from moment to take a look at these skyrocketing.
Prices of gas.
The cost of fueling up your car going up again the 33 day in a row of rising prices according to AAA since the -- -- 2013.
The average price of a gallon gasoline -- jumped 46 cents 329.
Up to three dollars and 75 cents you can see the steady climb on.
That -- so the big question is in the middle of February.
Why would gas prices the rising now.
When they're traditionally on a downtrend in the middle of the winter storm Bonnie -- -- -- company on the Fox Business Network -- at pose that question to you okay.
-- that most of the blame is going to the blending operations that refiners have to go through at this time of year.
Bear in mind they're -- 100.
Different blends of gasoline mandated across America.
I'm when refiners switch from that went up to that some of blend.
The refiners go out of business just for a couple of days may be the -- takes gas off the market and up goes the price.
It also interferes with the free flow of supply and demand.
You can have a Jason count is in America.
Where they have to have different blends of gasoline.
So a shortage on one side of the line cannot be made up with extra supply on the other side because they've got these different blends.
So but at the moment a lot of the blame goes to the blending and the multiple blends that we have to have in America.
You could also look at the underlying price of oil it's gone up about ten dollars a barrel this year old from late last year ten dollars a barrel -- And there's also this ongoing turmoil in the Middle East never seems to settle down right in the middle of the oil patch so oil prices stay.
Dollars -- barrel.
All goes the price of gas moment that's what's happen.
All right so once they get through this blend Peary and which is your pointing out is always a little bit of upward pressure on prices and it.
And it's even more so in this case because of all the other underlying factors that you mention.
What does this mean the only get closer to the summer season just even -- I would imagine that.
When gas prices traditionally go -- as we drive more demand goes up but -- using these new summer blends.
Most of the analysts suggest that we will get much closer to four dollars a gallon.
Maybe we'll go over that nobody really knows but we will get closer to four dollars a gallon already.
In California regular averages four dollars and seventeen cents a gallon and Illinois Connecticut and New York all very very close to that full dollar mosque.
So we still got a ways to go with the spike and it is having an impact on the economy.
I've got economist on my program shortly who says every penny up for gas takes one point two billion dollars out of the economy.
Have that up and you've got a 5060 billion dollar hit to the economy this year already and that's a tough picture quickly started to cant what about that the key senate impact.
No impact on the immediate pricing Norman at all that decision is being delayed we don't know yet whether we gonna build up on a blog or not.
That will be almost certainly no impact.
On the price of gasoline in the immediate future because of that keystone decision -- -- through it thank you so much shall see -- --
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