Thursday, February 21, 2013

Gas Prices Soar in 2013

It's been 35 straight days of higher gasoline prices in the United States in 2013.

Higher gasoline prices means higher food prices and less spending money for hard hit consumers across the country.

The average US unleaded gasoline price rose .136 this past week.  And compared to a year ago, it's up nearly 16 cents.  But in some parts of the country, the price is up nearly 30 cents from a year ago.

And there's no sign that the prices are going to slow or even decline.

In fact, many analysts speculate that gasoline prices will continue to soar as we approach the summer driving season when prices are typically always higher.

So expect higher costs of everything---except wages--- as the impact of this year's soaring gas prices get passed along to the real victims of Big Oil.

Companies will pass on theses higher fuel costs to consumers.  And as we all have experienced, consumer prices are "quick to rise and slow to fall".

So many companies will enjoy higher prices and higher profits.  But who to blame?  They will again use renewable fuels as their scapegoat.  When in fact, renewable fuels like ethanol have increased the fuel supply.

But then Big Oil and Big Food don't worry about facts.

Source: US Energy Information Agency


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