Why Big Oil Is to Blame for High Gas Prices

by alexoscarew | November 6, 2012 at 02:49 am

48 views | 0 Recommendations | 0 comments

While oil prices have fallen to the $85.00 level, the price of gasoline continues to be stubbornly high, and you can blame this on the greed of the big oil companies.

Despite the decline in oil prices, it still costs me over $100.00 to fill up my gas-guzzling SUV.

According to the U.S. Energy Information Administration (EIA), the price of regular gasoline averaged $3.57 per gallon across the U.S. as of October 29, which is still well below the historical average U.S. high of $4.11 per regular gallon reached on July 18, 2008.

If you live on the West Coast, the cost of gas is staggering, at an average of $4.04 per gallon.

In my view, the price of gasoline makes little sense at the current level. Again, blame the oil companies and speculators.