Gas Most Expensive in 6 Years
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Gas is getting expensive and getting to your town’s fireworks display will cost you a little more than it has in years past. Yesterday, a gallon of unleaded gas cost $3.67 and that’s the highest it’s been over the July Fourth Weekend since 2008.
What you can curse while at the pump: the situation in Iraq. Though the Wall Street Journal notes that domestic production has ballooned lately, it sees the current prices as a “reminder that the US still depends on imported oil”; Iraq was the No. 6 importer to the US in April.
And with ISIS working its way through the country, investors and traders are warily keeping watch over Iraq’s oil production, and the possibility that our shipments could cease if the militants take Baghdad and southern oil fields.
Some gas- and travel-related facts from AAA:
California, as always, has it worst: Its average price was $4.138 yesterday.
34.8 million Americans are expected to drive at least 50 miles this weekend; that would be the most since 2007.
A July jump in prices is atypical; the peak usually comes near Memorial Day.
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And while Oil company profits are the highest ever, our Congress holds the transportation bill hostage to demands to protect corporate wealth, millions of construction workers face layoff because congress holds up funds or in progress repair projects, our highway infrastructure continues to ccrumble and companies demand the right to export American refined crude to other markets where they can make even more money!
Oh yeah, and congress continues to subsidize the oil companies, proposes to increase the federal gas taxes to build more toll roads and subsidize public transportation. Every time I buy fuel for my farm tractors & equipment, I’m subsidizing people riding a bus in the city…
Gas prices in the US are up because oil companies can get away with it! Prices are fixed by collusion between local suppliers and nobody can do anything about it because Congress permits it!!
Americans have always been spoiled about gasoline prices. Europe has always had gas prices far above the USA.
Here in Brazil, as of today, gasoline is exactly. $5.00 a gallon. It would be a little higher if the dollar were not up against the Real today.
Remember, that gas here is also 25% ethanol and so, delivers even less mileage than straight gasoline.
Here, the most cost-efficient fuel is natural gas. It delivers the best mpg cost of the gasoline, pure ethanol, and diesel available at most stations.
Keep in mind that Brazil is also oil-independent. We produce more oil than we need and so are a petroleum exporting nation.
When the two major fields discovered near Rio and São Paulo start producing, Brazil will be one of the major oil exporting nations in the world.
…and yet your prices will likely stay static or even rise yes?