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 Gas, natural gas, and oil 
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Post Gas, natural gas, and oil
Wholesale Gasoline Shortage In California Causes Gas Stations To Shut Down: Hoarding Next?

Submitted by Tyler Durden on 10/04/2012

"The squeeze is on, and people are doing desperate things," is how one independent described the situation in California. As Bloomberg reports, a shortage of supply along with drastically higher wholesale prices of gasoline has caused 'mom-and-pop' gas stations to close down as their margins are destroyed. Even larger firms, such as CostCo, are closing sites due to the shortages as Los Angeles and San Francisco gas prices jump 30-45c in a few days.

snip

The problem is likely a short-term one according to some as the temporary shutdown of local refineries (after Chevron's Richmond refinery fire) and maintenance is completed but it is clear that even a short-term blip in wholesale prices (whether driven by local supply or global geopolitics) causes pain as it would appear we are close to 'inelastic' levels of demand.

Con. http://www.zerohedge.com/news/2012-10-0 ... rding-next

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Thu Oct 04, 2012 6:36 pm
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