The rising price of gas is nothing new, but these past seven days, a gallon of gas has jumped up 27 cents. Prices have not increased at this pace since August 2003. One year ago, gas prices were about one dollar less than today's Los Angeles average of $4.38 per gallon of regular. "The Auto Club says California refineries are producing more diesel fuel and less gasoline, creating a need to import more costly unleaded......

Now the predictions are really getting people's attention: "Surging crude prices, which could surpass $200 a barrel in four years on tight supplies, could push gasoline prices to as high as $7 a gallon, CIBC World Markets analysts said Thursday," MarketWatch said early this afternoon. Currently, U.S. oil is $116 a barrel, down $3.90 from Tuesday's "historic high." The national average is $3.56 and in Los Angeles, the upward trend pushes the local average to......

Mark Lacter at LA Biz Observed is reporting that "the per-barrel price of crude was reached in after-hours electronic trading after the Energy Department reported unexpected declines in U.S. crude inventories and refinery operating rates." That means a barrel is now $115.31 easily tipping gas over $4 in the Los Angeles area. "Prices are up 4.4 percent this week and 82 percent from a year ago," reports Bloomberg. Lacter reports regular is going for $3.95......

A gallon of gas in California is averaging $3.63, 35-cents more than the regular joe American, and yesterday, a barrel of oil topped $111 (this time last year, it was $57). But as the San Francisco Chronicle explains, this isn't about supply and demand. Rather, it's the dollar and they break it down: Oil is traded in dollars. A weak dollar means that foreign investors can buy more oil, which helps drive up the price.......