Looking for an Answer to High Gas Prices
I bought gas this weekend and watched the pump ticker spinning. It’s information overload! My fill-up this week is 75 cents more a gallon than I paid at the very same gas station ten months ago. It’s also a sharp increase of 35 to 40 cents a gallon when compared to what I was paying just a few weeks ago.
My fill-up this week is 75 cents more a gallon than I paid at the very same gas station ten months ago.
What gives? Numerous factors. Click here and read a somewhat dated link about an earlier increase this year. The writer blames volatility with the U.S. Dollar. Yes, but the current situation appears a little less related to currency evaluation than it does to supply and demand. We keep hearing about these larger than expected “draws” on crude oil. Which means the slowing economy isn’t quite going off a cliff. Apparently there is still strong demand in some parts of the world.
Late last week the price did slip a bit. You aren’t likely to see any benefit until after Thanksgiving weekend.
With winter approaching, a severe cold snap like the one experienced 5 years ago in the Great Lakes Region could keep prices high. The good news is the long range weather forecasts aren’t calling for many long lasting Arctic blasts. Of course, predictions aren’t always reality. Ultimately, we simply can’t know the price of fuel beyond today. The two biggest factors at play are unexpected behavior by people and unexpected behavior by Mother Nature. The latter doesn’t often give much warning and if you’ve figured out our own kind, please give me the secret!