Friday, May 23, 2008

$4 gas

I predicted that we would hit $4 per gallon on May 22. According to AAA, the average price for a gallon of regular unleaded is $3.875 nationally, but if you combine that with the average national prices for midgrade and premium, the average price for gasoline nationally is $4.084 per gallon. Around the country, $4 per gallon has been seen in many places, including California, Connecticut, Illinois, Kansas and Missouri, New York, Pennsylvania, Tennessee, West Virginia and Wisconsin. Click here to see the average price where you live.

Meanwhile, Ford expects gas prices, plus it’s own refusal to see this coming and make greater progress developing alternative-fuel vehicles, to lead to layoffs and lower profits. But don’t worry. I’m sure the executives all have golden parachutes that will allow them to land squarely on a huge pile of money while the company crashes and burns due to their mismanagement.

"There's no sense in talking about new records, because every moment of the day, you're setting a new record," said Ed Welsh of AAA.

I’m sure that, sooner or later, someone in Washington will connect record gas prices with oil companies’ record profits. Probably right around Jan. 20, 2009, because you know the current collection of scumbags with an R after their names won’t do a fucking thing about it.

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1 Comments:

Anonymous Anonymous said...

check out this podcast on $4 gas, http://blog.investtalk.com

5/23/2008 08:23:00 PM  

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