Gas prices don’t usually spike over the Labor Day weekend, but this year could become the exception. The average price for a tank of gasoline is already 80 cents higher than it was a year ago. At $3.62 for a gallon of regular, that’s close to the all-time record for this time of year, according to the AAA Fuel Gauge Report. And prices could continue to rise. The average price for a barrel of crude oil has spiked in recent weeks, from $82.26 in the middle of August to around $89 at the beginning of September.
As if the gas gougers need any excuses, they have one ready made-
The increase appears related to lingering effects from Hurricane Irene. Most refineries along the East Coast closed down last week in anticipation of the storm. That led to a temporary dip in production that, combined with pressure from speculators betting the price would continue to rise, appears to be at least partly responsible.
And of course the rain in the Gulf Coast will cause prices to shoot up too. Because that’s how the greedy oil companies work. If a fly farts in the Middle East the price of gas goes up and if a seagull poops in the Gulf of Mexico it goes up too.
We like to deceive ourselves into thinking that if we were independent of foreign oil we would all be better off. But the fact is, oil companies will find ways to keep prices high no matter the source of crude. And when oil does run out and we’re using other forms of energy for cars and transport, you need not falsely hope that the same scenario won’t apply.
At the end of the day the providers of energy will shaft the public every time. We need it, they have it, they will get what they want for it. Because that’s how greed works.
- Gas Prices – The Harder They Come, The Softer They Fall (abcnews.go.com)
- Gas prices rise as Labor Day nears (kimberleyvassalinsurance.wordpress.com)