Gas Prices Are Rising Like We’re Made of Money
Matt | On 28, Feb 2012
If you don’t drive or don’t care about gas prices, then maybe you missed how high they have gone in the past few weeks.
The rest of the car-dependent world has cried real tears at the gas pump trying to get the needle to the full marker. Huffy (bicycle) is gonna make a serious comeback if prices keep rising at this clip.
Let’s look at the numbers for a second that AAA has released.
The U.S. average price for gas on February 28 was $3.71/gal. That’s an increase of 30 cents on the gallon from just ONE MONTH AGO! Just a week ago, the average stood at $3.57/gal.
I knew the prices rose, but damn, not that fast!
excuses reasons behind the spike are plentiful. First, the entire oil market is built on speculation — which means if the powers that be “think” something is going to happen, then prices swing. Iran is threatening to close the Strait of Hormuz in the Middle East, a waterway that carries 20 percent of the world’s oil supply.
There is also instability between Iran and Israel. And of course, the summer driving season is around the corner which has always been a cop-out for price gouging.
People also say that we aren’t developing enough sources of renewable and clean energy for cars, which is actually true. We are addicted to the cocaine known as foreign oil and those in charge tell us WE are crazy for exploring alternate ideas. Whatever…
This is what’s going to happen. The price of gas is going to reach a certain point where consumers will not be willing to pay. We will notice a significant decline in the amount of people driving as a result. Basic supply and demand will have to factor in at some point. The U.S. consumes 20 percent of the world’s oil supply.
In the meantime, people will be looking for all sorts of ways to “make it rain” at the gas pump. It’s hard out here!
ANSWER IN THE COMMENTS SECTION BELOW:
What is the price of gas where you live? List your state and the price/type of gas you buy.
How or will your driving habits change with the increase in prices?