How high will gas prices rise?
A recent article in CNNMoney discussed the impact that the capture of fifteen British Marines had on crude oil prices. This caused me to consider the volatility of gas prices. We have seen how many different factors affect the price of crude oil, including supply, demand, war, government, and others. With spring coming upon us, consumers have begun to watch gas prices very closely. We all seem to wonder if and when gas prices will rise above three dollars per gallon. Some analysts predict that prices will not get as high as last year. They say that consumers are more price conscious and are finding ways to reduce gasoline consumption. However, it seems to me that gas prices are already creeping up pretty fast. Demand in China is growing and the war in the Middle East is far from being over. With growing economies, rumors of wars, and corrupt governments throughout the world, the price of crude oil seems to be unpredictable. We could be in for a roller coaster.