It's now February 27th and the rack price continues to climb since President Obama spoke at the joint session of Congress. The rack price in Southwest Michigan has increased by 39 cents per gallon, the largest increase in quite some time now. This increase in the rack price is in direct contridiction to the crude oil price that has again decrease to less than $43 per barrel.

OPEC wants the crude price to go up and the majors want the crude price to go up but it seems that they just cannot put it together to keep the price up as of yet.

Keep in mind that the rack price is the price that your local suppliers purchase the fuels from the major oil companies. The majors have total control over the rack price and they move it sometimes in accordance with supply and demand and other times at their will.

The lack of President Obama's interest in new drilling is having a severe impact on prices. These increases will hit the street soon.