Have you been to the gas pump lately? If you haven’t, I can tell you from personal experience that it’s not good out there. In fact, according to the Energy Department, gas prices have topped $3 per gallon; gas prices are the highest they have been since October 2008.
In the last week, gas prices have risen 7 cents, pushing the average price of a gallon of gas in the US to $3.05. Even diesel is higher; diesel fuel prices have risen 4.6 cents, pushing the price of a gallon of diesel fuel to $3.29. The gas prices rose in spite of the fact that crude oil prices are down slightly, to $91 a barrel, on the New York Mercantile Exchange. I’d imagine the gas price spike is due more to increased holiday travel, rather than the cost of crude, though crude oil prices have been depressed by light holiday trading and blizzard-related trading problems.
It looks as though the prediction that gas would reach $3 by Christmas wasn’t too far off, was it? It could be worse; at least we still have gasoline to use and abuse as we see fit. It just costs a whole lot more.
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