Gasoline Prices

I wonder how much this will ding the economy.  What's troubling is the rise in prices is coming early.  If the rise comes now, when the ramp up to summer blends happens, there could be a hit to consumer spending. 

Consumer spending is 2/3 of the national GDP. 


Consumers Taking Financial Hit From Rising Fuel Prices

The spring rally in gasoline prices typically starts in late February or early March, so this year's gains have come earlier than is usually the norm.
Analysts said the uncharacteristically early price rise is due to several factors: some refineries closing permanently or shutting down for maintenance, climbing crude oil prices, and a shortage of supply in California, requiring fuel to be diverted from other areas of the country to make up for reduced inventories.