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.......