Gasoline supplies right now are plumbing historic lows, just as May and the "summer driving season" are about to roll around. This fact has the industry types at the WSJ's Energy Roundup abuzz with predictions of $4/gallon gasoline, should the inevitable disruption (refinery fire, hurricane, Iran war) occur. As in years past, areas with higher cost gasoline, mostly the blue states along the oceans and Great Lakes, will see the highest prices. Some hope that record margins (known as "crack spread," heh heh) will lead refineries to crank up gas production, but in any case, there's dangerously little slack in …
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