Ready for $4 a gallon? This summer?

A daily read for the energy-interested, the R-squared Energy Blog has something for everyone today: your gas prices are likely to jump - a lot.

Analyzing the weekly petroleum report from the Energy Information Administration, Mr Rapier notes that in 99.2% of weeks going back to 1991, we've had larger gasoline inventories (as measured by # of days supply). Typically, refineries kick up production to prepare, producing more gasoline to help meet peak demand season (summer). This spring, they haven't been able to keep pace, and gasoline inventories missed all expectations by falling this week, by several million gallons.

Demand steady, supply down. Get ready.