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We're well into unchartered territory. The per-barrel price of crude was reached in after-hours electronic trading after the Energy Department reported unexpected declines in U.S. crude inventories and refinery operating rates. The per-gallon gas price is what my neighborhood Chevron in Westwood was charging this afternoon for premium. Regular is selling for $3.95.
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.