Troy Reynolds, a spokesman for Marathon Ashland Petroleum LLC, said he couldn't offer one simple explanation for price increases. But, Reynolds said, Chicagoans shouldn't feel singled out. Meanwhile, Marathon stations, which primarily are run by independent operators, raised prices by as much as 25 cents, he said. This just seems to be market forces. Psychology of fear Don O'Grady, an analyst for A.G Edwards in St. Louis, was unconvinced by industry explanations.
Psychology plays a huge role in the market.
The industry is bidding up the price of gas over fears of another summer like last year. O'Grady also disagreed that gasoline prices had been too low. On a more optimistic note, O'Grady said that at least as far as gasoline is concerned, what goes up must come down. Prices tend to move up pretty quickly, and unlike, say, gourmet coffee beans, they do come down. Clay Boudreau, manager of the Shell Station on 22nd Street in Oak Brook, said he couldn't blame the increase on one single factor, pointing out that prices have fluctuated wildly in recent months.