I think two factors to look at in considering the rise are crude oil prices and gas demand.
The gasoline price has broken records repeatedly in 2005, but until September 9 it did not exceed the true all-time high.
Katrina damage remains a crimp on gas supplies, but we've had a major comeback by the oil industry since she hit.
[But that was before Katrina.] The hurricane has removed -- at least temporarily -- substantial supply from the market, ... Price will respond.
Very low crude prices have been working their way through to the gas pump, and the economic problems elsewhere, particularly in Asia, have created a glut of oil.
Dealers are losing their profit margins, cutting prices to get sales.
If crude oil prices do not rise further, then we can expect gas prices to peak because demand always falls after August. Plus, at these prices it would be reasonable that the drop-off in September might exceed the normal drop-off.
We're still using a lot of gasoline.
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