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>> CALIFORNIA Latest News

NOV 02, 2013 - San Francisco Chronicle

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Volatile prices at gas pumps give drivers whiplash

NEW YORK (AP) — Local gasoline prices are swinging up and down ever more drastically, a result of a national fuel system that is operating with a shrinking margin for error. Spikes in gasoline prices are more damaging to the economy than a slow rise in prices because they undermine consumer confidence, economists say. In 2008, the last time local prices were this volatile, oil spiked to $145 a barrel in July, then plunged below $40 in late December as the global financial crisis sent energy markets reeling. Nowhere is it more frustrating to buy gas than in Kokomo, Ind., a flat, unassuming ... Read More

Tags: Volatile prices at gas pumps give drivers whiplash,  California Latest News