Sunday, October 21, 2007

Gas Prices Continue To Rise

Prices up a nickel in past two weeks according to national survey and are up 60 cents from the same time a year ago; more increases expected.
Gas prices rose a nickel during the past two weeks, to an average of $2.80 per gallon of self-serve regular, a national survey said Sunday.

That's 60 cents more than prices at this time last year, but 38 cents below the all-time peak of $3.18 set on May 18, said Trilby Lundberg, publisher of the "Lundberg Survey."

The increases reported in the survey, which was carried out Oct. 19 and Oct. 5, will likely continue, she predicted.

"This nickel is a drop in the bucket," she said.

Over the same two-week period, the price of crude oil went up the equivalent of 18 cents per gallon.

That hike is not fully reflected at the pump because refiners, marketers and retailers have not passed it along, she said.

"The margin squeeze alone for refiners, marketers and retailers is enough to tell us that gasoline prices will continue to rise," she said.
Did you know that the price of a barrel of oil has more than tripled since the start of the Iraq war and occupation? The saber rattling going on with Iran will only cause prices to rise even further and if we should attack Iran $5.00 per gallon will be common.

We are living through some very strange times and the pressure on the middle and lower classes will only continue to grow until we demand a change in course.

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