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After 3 Months, Gas Prices Back Up
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by Jordan Yerman | December 14, 2008 at 11:04 am
180 views | 3 Recommendations | 3 comments
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US gas prices have climbed for the first time in 86 days. The initial increase wasn't much (1/10 cent), but I'm sure a few eyebrows are raised, given the touchy state of the economy these days.
The motorist group AAA reported Sunday that the national average price for a gallon of gas rose to $1.663 a gallon from $1.66 the previous day. The reports are based on a daily survey of credit card swipes conducted for AAA. The average price of gas was $1.656, according to AAA's Friday report.
During the nearly three months that gas prices were falling, prices decreased by $2.199 or 57 percent.
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Most RecentMost Recommended Comments (3)
at 12:09 on December 14th, 2008
What is funny isn't that the prices are up again...but the fact that here in my town, they were $1.67...then that night it went to $1.58, the next morning it went up to $1.68, that evening back down to $1.57...
Now today it's $1.71
What gives.
I think that stations shouldn't be able to change their prices like that...I mean they should only be allowed a certain percentage of profit on the gas they have purchased for their tanks.
With the prices jumping all over, you have gas stations purchasing gas and marking it up for sale, then raising the price up higher on the same gas they already purchased at the lower prices.
back and forth...
We had many stations in my area get busted by the EPA for gouging.
They were purchasing gas when it was cheap, then waiting until gas was high, and really raising the price beyond that.
No one went to jail, but there were many who had to pay hefty fines, and one gas station was not allowed to sell gas for nearly a year.
at 14:40 on December 14th, 2008
Expect gasoline and fuel oil will get more expensive as the economy recovers and probably rise beyond its recent peak.
at 17:30 on December 14th, 2008
I read recently that Shell Oil had 3 month futures contracts in the 56 dollar range. I expect prices to rise through oil company manipulation as a result
at 21:03 on December 15th, 2008
Regular unleaded was down to $1.37.9 in some stations in New Orleans area, now back up to $1.43.9. Oh, boy!