Solving the Mystery of Rising Gasoline Prices

U.S. refineries are in the wrong place
Workers prepare the Orion Drilling Co.'s Polaris oil and gas drilling rig in Corpus Christi, Texas, on April 4, 2012. Photograph by Eddie Seal/Bloomberg

Gasoline prices have now risen for seven straight weeks. At $3.78 a gallon, the national average is up 36 cents since July 2. That’s 12¢ higher than it was at this time last year, and it’s almost exactly where it was two years ago.

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