Gas Prices Jump

No surprise there: blackout took 7 refineries offline for a few days, there was a big pipeline rupture in Arizona, it’s coming up on Labor Day weekend … Here are some links to articles discussing the gas price spike, from the Los Angeles Times (registration required), CNN/Money, and the Associated Press. I agree with Stephen Karlson’s assessment of gasoline prices:

When you see unleaded regular at $2.73 a gallon (I’m not sure how the Energy Information Administration treats taxes) give me a holler.

In other words, the real price of gasoline is still low.