Oil Prices Above $72 A Barrel.

Source: AP via Yahoo News

That magical drop at the pump of almost 75 cents in some regions a few days ago is about to disappear again all too quickly.

It seems a refinery snag in Texas and unrest in Nigeria near oil platforms are causing uncertainty among oil futures traders and threatening to run the price of gasoline high again.

We are getting ready to go into the summer driving season, so you may want to look into selling your first-born or taking out a second mortgage to fill up the tank this summer.

SINGAPORE -- Crude-oil futures rose Thursday after a refinery snag in Texas and the fatal shooting of an American oil worker in Nigeria renewed supply concerns despite U.S. government data that showed domestic gasoline stocks rose.

But traders brushed aside the inventory report, choosing instead to focus on a 15,000 barrels-per-day reduction in gasoline output over the next few days due to repairs at a Valero Energy Corp. refinery unit in Texas City, Texas.

"So we've had two weeks of stock builds in gasoline, but the market says: 'Big deal, the absolute level of gasoline stocks is still below year-ago levels, and we're two weeks away from the summer driving season,'" said Victor Shum, energy analyst at Purvin & Gertz in Singapore.

"The surplus production capacity within OPEC remains limited, giving rise to concerns that supply may have a difficult time catching up with demand -- that has always been the main issue behind the surge in oil prices," Shum said.

I think it's just about time to put some serious thought and research into alternative fuel resources. I mean, unless you enjoy paying 10 dollars a gallon for gas, that is.

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