GAs spiked here on Thursday July 5th. Many stations raised prices 10 to 15 cents per gallon.
Checking futures prices, the August 2012 contract closed at $2.92 per gallon. Oil closed at $92.17....Gas is up from the mid $2.60's 4 weeks ago. Oil is up from about $77 per barrel..
For point of sale price add 60 to 90 cents to the wholesale price.
Now, things are looking up for consumers. The December 2012 contract sits at $2.56 per gallon for gasoline.
Oil is stable for the next 12 contracts, hanging around $93 per barrel for West Texas Intermediate Crude.
Source....cnbc.com...Click "markets" then click commodities....