Why are prices rising though the Market and OPEC are limiting production with over 150 Million less barrels pumped per day and barrel prices now rising above $60?

Updated on May 16th, 2009, as most of us have seen in the last week gas prices have bumped up significantly and we're now back to  $2.29/gallon for gas this weekend at the Citgo on SW 13 ST (go Citgo...). For those a little more selective on where they pump, locations like Archer, FL and other smail towns don't get as many deliveries and surprisingly are less then some of the primetime spots in Gainesville (normally Archer & Tower Rd and Williston Rd & I75) if you want to shop around.  Either way, the summer months have begun to arrive and things probably won't change anytime soon. Please note, most gas prices are set by the local pump and distributor and based primarily on what the consumer will afford.   If you don't like the price, don't wait for the last moment when your choices are slim and plan ahead to make trips around town that flow past gas stations with better prices.  We provide a number of tools here on FloridaViewpoint.com to show where the best places are in our local areas and more links to Gasbuddy below).   Planning ahead can save you 50 cents to a dollar...which adds up significantly over time.

Updated on Nov 17th, 2008, this is still a good question, but to my surprise I payed $1.98/gallon for gas this weekend in Ocala, FL.   Pam and I went to Ocala yesterday and was surprised to find gas as low as $1.98.   Just 6 months ago I said to myself we would never see gas lower then $2/gallon and surprise surprise my nightmare was finally alleviated!   For locations a little closer to home, Archer, FL as of Sunday is now pumping gas for $2/gallon.   Not sure how long this will last, but I know to speculate and time to fill up the RV.

Simply because of Rumor and Speculation!!!   As shown on GasBuddy.com's website:

Gas prices have dropped exponentially over the last 3 weeks and much of this loss has been driven by the election and mention of other resources besides OPEC resources coming to the forfront as preferred methods to heat, fuel and drive our economy.

In Reuter's Gas prices continue to fall: survey has reported that

The price decline is being driven by a lower oil prices and shrinking U.S. gasoline demand said Trilby Lundberg, who compiles the survey.

From here short term, barring a deep global oil demand cut which would pull crude oil prices down further, both oil and gasoline prices may soon bottom out," said Lundberg.  And for U.S. motorists the drop is probably complete or nearly so.

I'm not sure about you, but I'm certainly pleased to see the tide shift and gas prices start flowing in our direction as consumers.  As reported here on FloridaViewpoint.com our Gas Price index shows:

Our area having record lows for the last year falling down to $2.15/gallon in many gas stations in our area.  Thankfully this is happening with my present needs requiring use of my 1993 Chevrolet S-10 truck that does not get great gas millage.

About the Author: Brian Sorli

Brian is a technology specialist and co-owner of (Digital Circus and Florida Viewpoint). The FloridaViewpoint.com helps local communities in North Florida distribute information and news through articles, videos, and forums.  Florida Viewpoint - Your Source for Community News...