Why are gas prices going up?

Why is it that gasoline prices are going up again? Is there an explanation?
I just don't understand why the hell gasoline prices are going up when global usage is down?

asked by Gary in Personal Finance | 2610 views | 07-31-2009 at 03:07 AM

There has always been a strong seasonal in gasoline prices, with prices highest in the summertime when demand for gasoline is highest.

A big reason for the high prices: refiners. Beset by weak consumer demand and losses on gasoline sales, oil refiners have scaled back production since late December. The average utilization rate at U.S. refineries was 81.5% as of Feb. 6, the lowest in 17 years, not including hurricane-related slowdowns, according to the Energy Information Administration. As recently as early December, refineries were running at 87.4% of capacity.

answered by Toom | 07-31-2009 at 03:11 AM

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