No repeat expected of summer gasoline price spikes
WASHINGTON -- Despite the dismal economy, motorists may want to take to the road this summer. The federal government says gasoline prices are expected to stay relatively low.
The Energy Information Administration today projected regular-grade gasoline to average $2.23 a gallon during the April-September driving season. The monthly average is likely to peak at $2.30 a gallon. That's still a bargain compared with last summer, when gasoline cost an average of $3.81 a gallon and soared for a time past $4.
In recent weeks gas prices have edged higher from their lows in December. Last week, gasoline averaged $2.05 a gallon. The energy agency attributed the increases to slightly higher crude oil costs and refiners trying to recoup some profits.
-- The Associated Press
Reader Reactions
This is like Jim Duncan trying to predict the weather. It’s just a guess.
Our do nothing Congress has done nothing to promote the production on energy on US soil. There has been talk of repealing offshore drilling that they passed last year. Drilling is still banned on ONWAR which Bush tried twice to open. We have plenty of oil and gas in this country to tap, but our politicians don’t have the guts to stand up to the tree hugging crowd and look after America’s Energy needs.
It is our Congress and their inaction that caused the price of gas to spike last year. We have not built a refinery in this country in over 30 years and the ones we have are all located in Hurricane ally. Demand came tumbling down after the refineries were shut down last fall when the Hurricane came in the gulf.
Every serious recessions in this country since WW2 has been triggered by a spike in energy prices and supply crisis. Any thinking person could have seen this coming, and it is going to happen again when the economy improves. Does anybody remember the oil embargo in 1973 and the recession that caused? Then the inflation in the 1970s and the second energy crisis in 1979 and 1980? History is our guide on this one.
Oil is not being tapped because of regulations and all the government red tape to explore and build refineries. Everybody needs to demand from our political leaders that we develop our own domestic energy. But wait, I bet those same politicians profit when the prices skyrocket and that money gets stuck in their pockets at our expense.
It is time to hold their feet to the fire and demand we drill for oil and gas in this country and also develop alternative sources while things are still slack and before the next crisis. This environment feels so much like the 1970s it isn’t even funny.
Gas prices won’t explode like they did last summer. THe oil companies and OPEC learned their lessons last summer when gasoline use hit a 40-year low. They know they can’t let gas prices go over about $2.50 or the world—not just Americans—will flat out stop driving like they did last summer.
I’m skeptical of this article—they say that likely it’s not to go above 2.30 a gallon. I’ll believe that when I see it.
Who knows what’s going to happen the next month or even the next 6 months?
That does not mean we have to stay home all the time, but think through our usage of the car.
Bottom line, we should continue to drive judiciously, continue to keep the car well maintained, and drive fuel efficient vehicles.
Anything to keep more money in YOUR pocket.
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