I saw a penny increase in the price of gas overnight.

Over the last couple of months we’re up more than 50 cents at many pumps

At my desk this morning I read a story in the Wall Street Journal about the spike.  Over the last couple of months we’re up more than 50 cents at many pumps.  I’ve also noticed a closing in the gap between cheapest and highest gasoline costs around town.  What had been an almost 30 cents difference (often based on the quality under the pumps) is now a ten to fifteen cent swing.

The Journal explains the huge uptick caught most analysts by surprise.  Supplies were found shrinking at the close of winter.

There have been fears the Iranian nuclear decision would cause an even greater shock at the pumps but there was a slight decline on markets today.  It appears the President isn’t planning any harsh new sanctions on Iran.  Take a deep breath!  Maybe we’ll actually dodge 4 dollars a gallon.  For now.