RUH-ROH, ECONOMY …
Low fuel costs have been a bright spot for consumers struggling to navigate America’s disappointing economy. Sure, they haven’t spawned the spending renaissance we were promised, but you know … Obamacare happened.
Anyway, imagine how bad things would be for American consumers if gas prices started going back up?
Stop imagining … it’s happening.
According to the AAA daily fuel gauge report, the average cost of a gallon of regular unleaded gasoline in the United States is currently $2.11. That’s up a hefty forty cents (or 23.3 percent) from a low of $1.71 back in February – which makes this the biggest surge in gas prices since July 2009.
Ouch … and we can expect additional increases during the peak summer travel months (assuming anybody can afford a vacation this year).
In South Carolina – where gas prices are almost always the nation’s lowest – the average cost of a gallon of regular unleaded is currently $1.89. That’s up 36 cents (or 23.5 percent) from a low of $1.53 in February – but the Palmetto State did tie with Mississippi for the lowest prices nationally.
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That's because Obama has been trying to lean on OPEC to halt production of oil in order to jack the prices up. Word on the street it's not working out so hot. Barrel is still pretty low. We'll see what happens.
ReplyDeleteMaybe SSA will do a mid-year reevaluation and give retirees a bit more of their money back that was withheld when the price of gas -not Medicare, or food, or taxes, or most everyday expenses except gas- went up.
ReplyDeleteThey will call it "stabilization", which is Big Oil speak for more profitable.
ReplyDeleteJust in time for summer vacations. They always plan it that way.
ReplyDelete1:59 AM -- Yeah, good luck with that. Let us know how it goes.
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