*Gas prices shoot up

An average gallon in the L.A. area is $3.574, up 12 cents from the previous week, according to the government's survey. Hard to know how much of the increase is due to the jump in oil prices or refineries not operating at capacity or the unrest overseas or a host of other factors. Some analysts are again talking about $5-a-gallon gas, perhaps soon, and that's sure to put a damper on economic growth. But up until this week, the increases have been incremental - not enough to warrant any big concern. We'll see whether that continues to be the case.

*From the NYT:

The intensifying turmoil in Libya drove oil prices sharply higher again on Tuesday, in part because at least 50,000 barrels a day of output had already been suspended. That is only a fraction of what Libya produces, but with foreign oil companies beginning to shut down operations and evacuate workers, the price of Brent crude, a benchmark traded in London, rose to more than $106 a barrel on Tuesday.