3/04/2005

Gas Prices Going Up

In the article Gasoline set to surge it talks about how the average price for unleaded gas could rise to well over $2.10 a gallon. Gas could rise 12 cents before the middle of March and then another 12 cents at the end of the month. Some of the reasons they are pinning on the huge increase in gas is because of the high cost of old oil refineries in the U.S. and a growing demand for gas in developing countries. I think that this increase could be from the tsunami and the rebuilding efforts of the effected areas. No matter what this will effect our economy as a whole, it takes gas to ship it, or it gas to build it. Most industries use gas in one way or another.

4 comments:

trudy said...

I agree that the increase in gas prices suck, but what good does it do to complain. The prices of everything will increase, but this has been happening for years and we call it inflation.

Nick said...

Trudy does gas inflate almost a quarter in a month? There is something more than just old fashion inflation happening here.

Keston said...

I also agree that rising gas prices stinks. It seems like a lot and for the poor college students it really seems like a lot of money, but I heard a report on the news the other night that said when taking inflation into account, gas prices still aren’t as high as they were in 1981. Therefore it is not as bad as it has been before, so we can’t complain too much, yet. Also, now that spring and summer are getting near, maybe we can all start walking or riding a bike more often to save money on gas and to protect the environment.

Dr. Tufte said...

-2 for multiple grammar errors in Nick's post.

Bet you didn't know that gas goes up in price every year at this time. And every year the media makes a stink about this. The reason is that refineries are switching from winter to summer blends created shortages.

Keston is right though - in real terms, gas is not that expensive right now.