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Wednesday 15 May 2019

West Coast retail gasoline prices increase because of refinery outages and declining inventories (5/15/2019)

On May 6, 2019, the California retail gasoline price averaged $4.01 per gallon (gal) and the West Coast retail gasoline price averaged $3.71/gal. In comparison, the U.S. retail gasoline price averaged significantly lower at $2.90/gal. Gasoline prices have not neared the $4/gal price in California since the high crude oil prices in 2014 and the Torrance refinery outage in 2015 (Figure 1). Gasoline prices dropped slightly on May 13, 2019, with California prices averaging $3.97/gal. Since the beginning of 2019, the price of gasoline on the West Coast has increased by $0.68/gal and the price of gasoline in California increased by $0.79/gal. Over the same period, the price of Brent crude oil, the primary driver of U.S. gasoline prices, only increased by $0.40/gal. Reduced refinery production of gasoline due to planned and unplanned outages and declining gasoline inventories in a region with limited and expensive resupply options have contributed to the sharp increase in West Coast retail gasoline prices. ... More »
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The Stages Of A Scam

1. Foundation Work: This is the preparations which are made before the scam is put in motion, including the elaboration of the plan, the employment of assistants and so forth.

2. Approach: Is the manner of getting in touch with the scammers victim — often most elaborately and carefully prepared.

3. Build Up: Rousing and sustaining the interest of the victim, rousing his emotions, showing him the chance of profit and filling him so full of anticipation and cupidity that his judgment is warped and his caution thrown away.

4. Pay-off or Convincer: An actual or apparent paying of money by the conspirators to convince the victim and settle doubts by a cash demonstration.

5. The Hurrah: This is like the dénouement in a play and no scam or con scheme is complete without it. It is a sudden crisis or unexpected development by which the victim is pushed over the last doubt or obstacle and forced to act. Once the hurrah is sprung the victim is clay in the scammer's hands or there is no game.

6. The In-and-In: This is the point in a scam act where the conspirator may put some of his money into the deal with that of the victim; first, to remove the last doubt that may tarry in the gull's mind.