Kitsap gas at $3.23 a gallon today …

Up seven cents from a month ago, and up 23 cents from a year ago. Oil prices may be moderating. See this from the AP this morning.

NEW YORK (AP) — The price of oil fell on Monday after the Saudi oil minister hinted that his country, the world’s biggest oil producer, may raise supplies to put the brakes on higher oil prices.
Benchmark crude for March delivery lost $1.36 at $87.75 per barrel in afternoon trading on the New York Mercantile Exchange. The price of oil has fallen more than 3 percent since Thursday, when it was close to $92 a barrel.
Saudi Oil Minister Ali al-Naimi said he expected world oil demand will increase this year to between 1.5 million and 1.8 million barrels per day. That’s higher than forecasts from the Energy Information Administration and the International Energy Agency. JP Morgan analysts point out that al-Naimi’s prediction of stronger demand probably means the Saudis are willing to raise production.
“It would seem more oil is on the way, which will reduce the supply deficit and will moderate the price gain,” JP Morgan said.

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