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Wednesday, August 31, 2005 

Greed: Gas Prices

Prices for E10

48 hours ago: $2.59
24 hours ago: $2.79
Now: $2.99

I am not an economist, but this seems to be simple fear mongering/price gouging due to the Hurricane. The gas in the storage tanks didn't just start costing more. I know, I know, refining, oil markets, replacement costs... whatever...

I understand that oil is getting more expensive and refining capacity is dwindling, I even have read and understood the (crackpot?) theory of "Peak Oil". What I don't understand is why I need to pay 40 cents a gallon today because just because I forgot to fill up yesterday. I am up for a constant, but slow, increase in prices not this sort of jolt to the senses.

Are we really to believe that the refineries that got shut down will not be back online soon and that the release of some of the SOR had no impact? Gas prices never go down, only up. If we can expect 20 cents a day, I can't see any way that our ecomony can survive.

Why is gas so goshdarn expensive? I mean we are currently in a war for oil, right? What the heck happened to all that Iraqi Oil we are stealing?

BTW: E85 is $2.51... Man, I love my FFV!

UPDATE: No change this morning, but I see that I am not the only one that has questions about this, Dave has a similar post (of course, after mine... [sigh]). One of Dave's commenters, averagejoe makes a really good point about not being the first station to hike above $3.00. I think it applies in this area as well. I am sure someone will "get over it" and punch through, then the next sticking point might be $4.00 (gulp)

'Nother Update: Price continues to hold steady at $2.99 all over town. I guess the $3.00 barrier is real.

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