Gas prices are uncharacteristically inching moving up each day throughout the summer when they normally are at a fairly stable low rate. So oil prices must be up there as well, right? No.
Today oil hit a 6-month low.
So what's with the gas prices?
It's not supply and demand. It's not a response to high oil prices. So just what is it?
It is isinflationary. That much is sure.
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Gas prices are effecting everyone and like you pointed out, the increases don't seem to be tied to anything that are causing the rise. Oil companies are getting away with it and we all need to put gas in our car so we don't have a choice but to buy it. I know it effected my family and our vacation plans this year!
Wendy,
We must fight for new refineries and wells in this country and offshore. :)
Steve
I think it is the structure of the market that the Great Imam has stultified. No leases extended, no permits extended, and no rigs coming back to the Gulf. The future is now.
Jay,
Every season we hit a new normal. Rather than $2.00 or even $3.00, $3.50 is considered a low plateau now. In 2-3 years, $4.00 will be the low plateau that we look for. :)
Steve