Gas prices: Here we go again

I am certain most of you have noticed the ever-increasing prices at the gasoline pump these days, rising from a not-so-long-ago $2.05 per gallon to a current $2.49 per gallon. That’s almost a 22 percent increase in a very short period of time. Why, we ask? Oh, it’s the so-called vacation season on the horizon and more people will be driving more and that equates to an increased demand on our current supply of gasoline. But isn’t the price of crude oil (which is certainly a big factor on the eventual price of gas per gallon) at one of its lowest points in history?

The answer is factually yes. This would seem to indicate a robust supply of gasoline on hand and I think this is the case – therefore with supply at very high levels why should the price be increasing at its current rate? Is it perhaps Big Oil and Distributors are not making enough profits as they were when the price per gallon was nearly $4.00 in some states? No doubt! Unfortunately, are we at their mercy? Without question, if we desire to travel somewhere. Walking or biking is not a viable option for most of us. Given the situation, what can or should we do? Well, we could travel shorter distances, delay vacations until the price comes down, only fill our tanks half full, etc. Maybe this would send a message to profit hungry Big Oil.

George Cook