I know — we’re all suffering from gas prices. But it’s been ridiculous around here since we moved. At one station here in Asheville it was $2.11 about three weeks ago. This station sells gas mixed with ethanol, and so it was about ten cents cheaper than every other place around. Then it jumped up to $2.23. A few days later: $2.32. A week after that, last Friday: $2:44.
As of yesterday: $2:52.
That’s an 18% increase in about three weeks. How is that possible? Has the price of a barrel of gas increased proportionately in the last three weeks? No. It’s finally broken the $60 a barrel mark, and seems to be bearing down on $70 a barrel, but it hasn’t gone up that much.
It’s a good thing there’s not a milk cartel to go along with the oil and drug cartels. Can you imagine if the prices of everything fluctuated this badly?
According to the Washington Post, this is the biggest one-week jump since the Energy Department began compiling the data 15 years ago.
Watch for the DoE to stop tracking gas prices and make historical data unavailable, since that’s how this White House solves these crises.
I liked the quote in the article:
“Companies that produce and refine oil have been reaping bigger profits[. …] Exxon Mobil Corp., reported last month that its second-quarter profit was up 32 percent, to $7.64 billion.”
And yet they say their refineries are having trouble keeping up? How many refineries could you build for $7.6 billion…
Perhaps the president could answer that question.