US gasoline inventories fell sharply last week, while crude oil inventories rose by nearly 10 million barrels. Total commercial petroleum inventories rose on increases in crude and all non-gasoline refined products.

For many years, there have been competition concerns regarding how retail gasoline prices are set in the U.S. and Canada. Consumers have complained about the perceived uniformity of retail gas prices and the perception that retailers raise their prices at the same time.

Proposals to reign in wallet-draining gasoline prices by curbing speculation in oil markets would likely increase costs at the pump instead of trimming them, a University of Illinois economist says.

A new company called MyGallons.com has started to sell tomorrow's gas with today's prices. I am wondering if this may be a new way to manipulate the gas prices and raise the price of my gallons tomorrow.

We talked about this yesterday on the Ideal Investment Radio with Rich Worcester (president of 78homes.com and founder of the North San Diego Real Estate Investors Association - nsdrei.org and JD Morris, founder of Ideal 4 Investors):

Sometimes, you see two headlines and they sum up an issue nicely. Especially when the subjects of both headlines are two presidential candidates' solutions to roughly the same problem. I had this experience looking through Reuter's headlines yesterday. The two headlines are "McCain calls for $300 million prize for car battery" and "Obama vows to crack down on oil speculation."

Gas has become a rising issue these days. Each week that you fill up at the tank, you may be astonished to see that the gas prices increase weekly, if not daily. It is safe to say that you are not alone in this seemingly growing economic dilemma.

Gas prices are up, and so is the volume of advertising for "gas-saving" products. When gasoline prices rise, consumers often look for ways to improve fuel efficiency.

Consumer Energy Center of California Offers 10 Ways to Reduce Your Fuel Costs, NOW!