I wish I could walk everywhere. And gasoline prices typically continue rising into Memorial Day, the launch of the summer driving season.
Analysts say at the heart of the problem is a basic imbalance between supply and demand.
While there's plenty of crude oil around, at reasonable enough prices, there are not enough refineries to process it. And all the while, demand for gasoline keeps growing. So as demand grows and demand is not capable to keep pace with demand, you get to a point where you have bottlenecks develop. And that's the point we're at. Normally, the industry maintains extra inventories to relieve such bottlenecks.